Private bus owners resist fare hike despite fuel price surge
January 02, Colombo (LNW): In the wake of the recent fuel price adjustment in Sri Lanka, private bus owners have taken a stand against fare increases, asserting that the current fuel price hike does not surpass the threshold specified in the national policy formula for bus fare adjustments.
Chairman of the Lanka Private Bus Owners’ Association Gemunu Wijeratne explained that, according to the national policy formula, bus fares can only be raised if the fuel price increase exceeds 4 per cent.
With the recent fuel price adjustment announced by the Ceylon Petroleum Corporation (CEYPETCO), private bus operators have decided to maintain existing fares, he noted.
CEYPETCO Chairman Saliya Wickramasuriya confirmed the implementation of a fuel price increase, including Value Added Tax (VAT), with specific adjustments for various fuel types.