UNP urges fuel price reduction in line with world market

The UNP yesterday called upon the government to bring down fuel prices on par with the decreased prices in the world market.UNP spokesman MP Gayantha Karunathilake told The Island that the prices of a barrel of crude oil in the world market had come down to US $ 85 and the government which jacked up fuel prices when the world market prices had been on the rise should bring them down accordingly.


With the latest price decreases in the international market, the Petroleum Corporation could sell at a profit a litre of diesel at Rs 100, a litre of kerosene at Rs 85 and reduce the price of a litre of petrol by Rs 35. If the government could effect price reductions in fuel, it could prevent the price increases in electricity and bus fares, the MP pointed out.

He said the current prices in the world market were similar to the prices in February 2012 and the local consumers should be given the benefit of price decreases by reverting to the then price ranges.

Last February the price of crude oil increased to US $ 118 and the government accordingly increased the prices in the local market. Now the prices had decreased and the government should similarly slash them, MP Karunathilake added.