Despite the recently introduced fuel price formula being implemented in compliance with the crude oil price hikes in the global market, no such implementation is taken place in response to the price slashes, paving the way for the government to commit a ‘deliberate’ fraud, alleged, Lalith Dharmasekara, President of the All Ceylon Three Wheeler Drivers’ Association, a trade union responding to the three wheeler drivers’ community in Sri Lanka, speaking to media yesterday (17).
“The global mart claims of the crude oil price being hiked or slashed. A price formula is introduced, but no such formula is implemented for price slashes. So, it will be a formula ‘eating’ us, if there is any. The formula comes into play when the prices are increased, but that formula is not implemented for us when the global crude oil price is slashed. We feel very regretful to inform you that in the backdrop, the government deliberately commits a serious fraud. We feel that they exploit us in the process,” Dharmasekara told media.
By August this year, the price of a barrel ‘Brent’ crude oil, which sold for US $ 103.81 in the global market, dropped to US $ 91.35, but there has not been any revision of fuel price in Sri Lanka since August 01, 2022.