Finance minister Mangala Samaraweera agreed to the price reduction, at talks with president Maithripala Sirisena at President’s House yesterday (10).
A related paper is to be submitted to the cabinet meeting tomorrow.
The president and the minister also discussed measures to prevent the misuse of kerosene oil.
Price increase was due to the use of kerosene oil to run buses, lorries & the world market price hike
Meanwhile, speaking to the media at the UNP office in Tangalle on the same day, state minister Dilip Wedaarachchi explained reasons for the increase in the kerosene oil increase.
According to him, the 47 per cent increase was due to the use of kerosene oil to run buses and lorries and an increase in fuel prices in the world market.
However, the price will be brought down in view of the difficulties being faced by the poor and the fisher community, he said.
The state minister added that the Consumer Affairs Authority, police and the STF would act against persons who abuse the kerosene oil subsidy.