Petrolium Resources Minister , Chandima Weerakody ruled out  immediate reduction of fuel prices

Petrolium Resources Minister , Chandima Weerakody ruled out immediate reduction of fuel prices

After 12 years price of crude oil has plunged down to 29.40 US dollars in the World market. Before the election , present rulers gave heaven promises to Public that prices of petroleum products will be based on prevailing changing World market prices. Although the petroleum product prices have come down,Government expressed its’ inability to pass on the benefit to the consumer immediately. Public keeps on demanding reduction of fuel prices. Private bus operators demanded price reduction of diesel or face strike action. The Chairman of the Consumer Protection Association has threatened to take up the issue before the Court. But the Petroleum Minister appears to have been insensitive to this sensitive petroleum price reduction issue. In his interview with a Tamil newspaper, he reported to have said thus“Although the fuel prices have come down in the world market, Petroleum Corporation has still not purchased crude oil at current price. We have the petroleum reserves purchased at old prices. Last week we have submitted a formula to fix petroleum prices to the Cabinet. In the forthcoming week it will be discussed, he said”. In the meantime information received that the relevant Cabinet Paper has been referred to the Ministry of Finance for observation. Finance Ministry wanted a week or more to discuss this cabinet paper and give their observation. Delay in taking prompt decision on sensitive issues gives room for the so called joint opposition and the JVP to demean the Good Governance.