Sri Lanka, Nov. 1 -- The All-Island Three-Wheeler Drivers' Union states that there will be no revision of fares despite the recent fuel price reduction, unless a proper regulatory mechanism is implemented.

Union President Lalith Dharmasekara said that although the Ceylon Petroleum Corporation (CPC) has reduced the price of a litre of Octane 92 petrol by Rs. 5, the benefit will not be passed on to consumers under the current unregulated system.

The CPC announced that, in line with the monthly fuel price formula, the price of a litre of Octane 92 petrol has been reduced from Rs. 299 to Rs. 294, effective from midnight yesterday (31). Prices of other fuel types remain unchanged, the Corporation stated.

Commenting on the matter, Dharmaseka...