No bus fare revision despite diesel price reduction

Bus fares will not be revised despite the reduction in the price of a litre of auto diesel by Rs. 12 yesterday, Chairman of the Lanka Private Bus Association Gemunu Wijeratne has announced.

Expressing his views while addressing a media briefing in Colombo, Gemunu Wijeratne claimed that there is no possibility of reducing bus fares at this juncture.

He said, “The public should understand that the price formula has been in place for 20 years. We have not acted contrary to that. Therefore, no one should expect us to reduce fares by Rs. 12 at this time. There is no possibility of reducing it like that. In our current percentage calculation, we have not reached the 4% mark.”

Wijeratne said a consideration of a bus fare revision can be made during the annual bus fare revision in July.

Gemunu Wijeratne also stated that the fuel price alone is not the only factor impacting bus fares and that all other expenses have increased.

He added that in order to revise bus fares, the price of diesel must be reduced by between Rs. 25 and Rs. 30.

The Ceylon Petroleum Corporation reduced fuel prices with effect from midnight yesterday (30).

Accordingly, the price of 92 Octane Petrol was reduced by Rs. 6 to Rs. 293 per litre, and 95 Octane Petrol by Rs. 20 to Rs. 341 per litre.

Auto Diesel was reduced by Rs. 12 to Rs. 274 per litre and Super Diesel by Rs. 6 to Rs. 325 per litre.

The Lanka Indian Oil Corporation (LIOC) also decided to reduce its fuel prices, to match the state-owned oil company’s prices.