Former Member of Parliament Patali Champika Ranawaka has accused the Government of misleading the public over fuel pricing, challenging claims that fuel prices cannot be reduced because existing fuel stocks were purchased at higher prices.
Speaking to the media, Ranawaka argued that the same reasoning was not applied when fuel prices were increased following the escalation of tensions in the Middle East.
“Fuel stocks purchased in February were bought at the previous prices. However, fuel prices were increased immediately after the conflict began. The increase was imposed on fuel that had already been imported at lower prices,” he said.
Ranawaka alleged that the price hike generated more than Rs. 600 crore in additional revenue and questioned why reductions are not being implemented now that global oil prices have reportedly fallen.
He claimed that international oil prices have returned to levels seen before the conflict and stated that fuel could currently be imported at significantly lower costs.
“I can responsibly tell the public that petrol can now be imported at around Rs. 225 per litre and diesel at around Rs. 240 per litre,” he said.
The former minister also urged the Government, the Central Bank of Sri Lanka, and relevant authorities to publicly disclose details of the fuel pricing formula, including import costs, retail prices, and tax components, similar to the disclosures made in 2023 and 2024.
In addition, Ranawaka raised concerns over recent fuel procurement practices, alleging that diesel purchases from companies including Trafigura and Aditya Birla had resulted in excessive costs. He claimed that complaints had already been submitted regarding the transactions and called for a comprehensive investigation.
“These costs are now being passed on to the public. In addition to the coal procurement controversy, there has also been a diesel procurement fraud,” he alleged.
The Government has not yet responded to the allegations.
