Gas and fuel price hike explained

(September 02 , Colombo, Sri Lanka Guardian) Speaking to the Media today (Sep 02), UNP M.P. Gayantha Karunatileke recalled what President promised at the last budget that he would give relief to the people if the world market prices of fuel drop. Now, the price of crude oil has Drastically dropped by U.S. $ 112.00 per barrel; then, why is he not honoring his promise? , he asked.

His Minister of consumer affair, better known as consumer despair, also promised in 2007 after increasing the fuel prices for a record 13th time in Sri Lanka within just two years that there won’t be another three digit fuel price hike. But, what has he unconscionably and brazenly done? – raised the price of gas yesterday (1 Aug), by another Rs. 126.00 per domestic cylinder of Shell gas and of Laugfs gas by Rs. 189.00, he remarked.

The State Media which is the tool of this Govt. also distorts the facts to suit the Govt.’s falsehoods. It makes a massive hue and cry when the world market prices are up defending the Govt.’s price hikes. But, now, when the world market prices are down, and the Govt. continues to raise prices burdening the people, the Media is silent, he regretted.

The Govt.’s price revision formula is devised not for the benefit of the masses, but to cover up its corruption, commission collections and deceits. While there is a refinery at Sapugaskande in Sri Lanka which could refine 50% of the imported crude oil cheap, the Govt. imported at the prevailing high prices, 130,000 metric tons refined Diesel and stocked them even when it was aware that the world market prices were showing signs of tumbling down.

Obviously, the motive was commission outweighing National interest as always, he lamented. People are not aware that on every litre of petrol sold, the Govt. is pick pocketing Rs. 80.00 from the consumer. He explained that the cost of a litre of fuel when it reaches the Harbour is only Rs.77.40, which is sold by the Govt. at Rs. 157.00. Thus, the Govt. is making a substantial profit of Rs. 80.00. Even this profit is not enough to cover up the Govt.’s corruption, wastages and commission collections. This is why it has to deceive the people at every turn blaming on the World market, he exhorted. Even the Provincial Council elections are a fraud, as there is mounting evidence testifying to this, following the investigations launched by the UNP, he concluded.
- Sri Lanka Guardian