Former President Mahinda Rajapaksa said today the government had fleeced the public through the manipulation of fuel prices and urged it to explain to the public why the retail price of fuel was disproportionately high today.
“The latest price increase is being justified in terms of a price formula which nobody has seen. It is quite clear that this government is aiming to collect more tax revenue from fuel by increasing and reducing fuel prices frequently so that at the end of the year, more revenue would have been collected from consumers,” he said in a statement.
“This kind of price manipulation is a standard practice in the large scale retail industry. The public should also take note of the devious manner in which the government implemented the fuel price increase. The Indian Oil Company was first allowed to increase their prices while the Ceylon Petroleum Corporation held back. After a few days when the people had reconciled themselves to a fuel price increase, the government increased the prices at the CPC stations as well. They sought to diffuse public outrage by such means. Such practices are all part of a government strategy to fleece the public through the manipulation of fuel prices,” he added.
He said the fuel prices had been increased yet again within a period of about eight weeks – a situation we have never experienced earlier.
“Now the price of petrol is Rs. 145 and diesel Rs. 118 while today’s price of crude oil in the world market is around USD 74 per barrel. In 2008, when Sri Lanka was buying crude oil at the much higher rate of USD 97 a barrel, petrol was sold at Rs. 120 and diesel at Rs 70. During the nine years in which we ruled the country, world crude oil prices were always high. According to the Central Bank reports, when I first assumed office as President back in November 2005, crude oil was imported to Sri Lanka at around USD 73 per barrel. Thereafter the price of crude oil increased steadily and during the last four years of my government, in 2011, 2012, 2013 and 2014, the average price of crude oil imports was over USD 109 per barrel. Hence the present crude oil price of USD 78 is very low compared to the prices that prevailed when we were in power,” he said.
BuffaloaCitizen Thursday, 12 July 2018 15:44
When ever this gobaya talks, I get an urge to fart. Of course the Govt collect taxes, bcos of you financial mismanagement. Furthermore, u fight a war for 30 years with much destruction to life
Reply : 23 92
Soam Thursday, 12 July 2018 15:49
This king of fleecing public money is no different to Zimbabe’s Mugabe. Corrupt to the core.
Reply : 11 85
gamini Thursday, 12 July 2018 16:23
the fuel price is still lower than your regime
Reply : 16 82
sarath Thursday, 12 July 2018 16:24
you did not reduce the fuel price even after a supreme court ruling
Reply : 9 83
Pinsiri Thursday, 12 July 2018 16:32
This is called "Mangala tax"
Reply : 46 15
kukula Thursday, 12 July 2018 16:55
Sir, You better not open your mouth, let the people decide of the next leader. Surely you will not be that person.
Reply : 9 61
Dee Thursday, 12 July 2018 17:08
You fleeced the nation through "war victory" . And the good buffaloes ate it.
Reply : 7 55
Jayamini Perera Thursday, 12 July 2018 17:33
Dude! In your time a litre of petrol was Rs; 189. So f... are you talking?
Reply : 7 42
Gamaya Thursday, 12 July 2018 18:08
Promise that you will bring down cheap fuel from the moon and we will vote for you!
Reply : 6 38
Buddhist Thursday, 12 July 2018 18:16
Small minds do not get economic implications when global prices go up. As if Mahinda Rajapakse found the oil in SL which he announced when he was in power.
Reply : 5 40
Upul Thursday, 12 July 2018 20:14
Please retire gracefully without making stupid comments daily to come back to power.
Reply : 4 38
Samantha Thursday, 12 July 2018 20:32
Remember your hedging deal...? We are still paying for your sins by selling imported fuel. We don't produce any here as you did in Mannar basin.
Reply : 4 32
melankan Friday, 13 July 2018 04:03
This corrupt pathetic rogue and his equally corrupt rogue family who wasted poor country's money are still breathing. Karma where are you?
Reply : 1 10
Dhanush Friday, 13 July 2018 07:22
Still we remember about your substandard diesel
Reply : 0 8
Poor man Friday, 13 July 2018 09:14
When Supreme Court gave an order to sell petrol @ 100/- did you adhere to the law. You said I'm the executive president and it is my orders and not Supreme Court. Be honest you have no moral right to argue on fuel prices, let others do.
Reply : 0 13
Jerome Friday, 13 July 2018 21:09
Actions speaks alot, memory loss does not have a cure.
Reply : 0 3
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