Public to benefit by world oil price drop - Amaraweera | Daily News


Public to benefit by world oil price drop - Amaraweera

The Government expects to provide the benefit of falling oil prices in the world market to the public, Power and Energy, and Passenger Transport Management Minister Mahinda Amaraweera said.

“There is a decline in oil prices in the world market as a result of the deadly COVID-19 outbreak across the globe. I have already discussed this issue with the Ceylon Petroleum Corporation (CPC) officials, and the Cabinet of Ministers will look into this matter at today’s Cabinet meeting to consider the fuel price revision,” he added. Minister Amaraweera was speaking at a public meeting in Tangalle recently.

He said the growing tensions between the US and Iran led to an increase in oil prices in the world market last February. If the government had continued the fuel pricing formula of the previous regime, we would have definitely increased the prices of diesel and petrol by Rs. 12 per litre.

“However, the government decided to foot the additional cost and provided fuel to the people at the previous price without increasing it and heaping unnecessary burdens on them. If we followed the fuel price formula formulated by the previous government, we would not have been to provide much relief to the people,” Amaraweera added.

“Members of the Opposition are levelling accusations that the government had failed to pass the benefits of falling oil prices to the public. We do not need the advice of the Opposition to provide relief to the people. The Government is committed to passing down the maximum benefits to the people in all sectors,” he added.


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