Opposition MP Harsha de Silva has raised concerns over the government’s fuel pricing formula, alleging a lack of transparency in how current prices are being calculated.
In a statement, de Silva said his “back calculations” suggest that the government is using assumed global oil prices of USD 130 per barrel for Petrol 92 and USD 180 per barrel for auto diesel when determining fuel prices at Ceylon Petroleum Corporation (CPC) filling stations.
He further claimed that authorities are factoring in subsidies of around Rs. 20 for petrol and Rs. 100 for diesel in the final retail price.
However, de Silva questioned the basis of these calculations, arguing that Sri Lanka has not actually paid such prices and that they do not reflect the true landed cost of fuel.
“The landed cost is assumed and the subsidy is hypothetical,” he said, questioning the credibility of the pricing mechanism.
The Opposition MP also criticised the government for what he described as selectively applying the fuel pricing formula, noting that the current administration had previously opposed the formula introduced under former Finance Minister Mangala Samaraweera.
He called on the government to be transparent in its pricing structure and disclose the actual costs and taxes involved.
De Silva further pointed to the previous administration’s approach, stating that there had been greater openness in explaining fuel pricing decisions, and urged current authorities to adopt a similar level of transparency. (Newswire)
