o LIOC agreement signed in 2000 for latest hike o Global prices on gradual increase says Minister By Maheesha Mudugamuwa The Ceylon Petroleum Corporation (CPC) trade unions (TUs) yesterday (19) alleged that there was an attempt by the Government to increase local fuel prices despite the global decline in fuel prices during the last few weeks. These allegations have come to light soon after Lanka Indian Oil Company (LIOC) increased their fuel prices this week. LIOC has increased the price of 92 octane petrol by Rs 5. Accordingly, the price of 92 octane petrol sold by LIOC now stands at Rs. 142 per litre. The CPC TUs also lashed out at Minister of Power and Energy Mahinda Amaraweera for not stopping LIOC from increasing fuel prices, alleging that it was because of the Government’s hidden agenda to increase CPC prices in the coming weeks. Speaking to The Morning, UNP-affiliated Jathika Sevaka Sangamaya (JSS) Petroleum Corporation Branch General Secretary Ananda Palitha stressed that during the past decade, when LIOC increased fuel prices, a week after that increment, the CPC increased their prices. Highlighting the global fuel price reductions, Palitha said the local prices had never been reduced in comparison to the global prices and that there was no reason for LIOC to increase prices at present. According to him, the CPC was planning to increase prices instead of passing the benefit of the global oil price reduction to the public last month. Urging Minister Amaraweera to resign from his ministerial portfolio, Palitha stressed that Minister Amaraweera had failed to take any commendable effort to provide any relief to the country and also to prevent LIOC’s price increment. LIOC was given an opportunity to engage in the local fuel industry so as to provide relief to the public by breaking the monopoly, but ultimately, it acted against its initial objectives because of the weaknesses of the rulers in the country, Palitha stressed. Alleging that the minister in charge of petroleum should have a control over private oil companies functioning in Sri Lanka by earning unlimited profits, Palitha said there should be a price regulation commission to control fuel prices, so that the unlimited taxes earned by the Government from fuel would be controlled and the benefits would be passed to the public. Meanwhile, when The Morning contacted Minister Amaraweera, he said it was the UNP Government in early 2000 which entered into an agreement with LIOC and since it is a sole privately owned company, the Government could not interfere. Assuring that CPC fuel prices will not be increased in the future, the Minister said that there was no direct or indirect connection between the Government and the LIOC price increment. “The global fuel prices are now gradually increasing but the CPC prices will not be changed,” he added.