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Fuel price hike indicative of govt’s. economic mismanagement: UNP

In response to the government’s decision to increase fuel prices from midnight today (11), the United National Party (UNP) stated that this is another indication of the government’s continued economic mismanagement and short-sighted policies.

In a statement released by the Central Media Unit of the UNP, the Party stated that during its tenure, the UNP was able to maintain the cost of living at a constant level during the 2015-2019 period.

“This Government’s refusal to continue the positive measures introduced by the UNP Government has resulted in a growing financial burden being endured by the public,” the Party stated.

Further, the UNP also mentioned that in May 2020, global oil prices fell as low as US $30.38 a barrel. It was also highlighted that the SLPP Government had rejected the fuel price formula introduced by the UNP in 2018. 

“This meant that the local fuel prices did not reduce to reflect the global prices. Savings which could have been incurred by the drop in global prices were not passed onto the consumers,” the UNP said.

The UNP also expressed that with the economy continuing to stagnate in Sri Lanka, and citizens’ earnings reducing drastically due to the prolonged lockdown, today’s fuel hike will only increase the financial burden on the public.