Fuel prices hike from midnight today
Posted by Editor on March 12, 2019 - 7:49 pm
The Ministry of Finance announced that fuel prices have been increased with effect from midnight today (12), based on the pricing formula.
Accordingly, the prices of fuel would be increased as follows:
Petrol (Octane 92) will be increased by Rs.3 a litre and the revised price is Rs.132, Petrol (Octane 95) will now be sold at Rs.159, after an increase by Rs.7 a litre.
Auto Diesel will be increased by Rs.1 and the new price would be Rs.104. Super Diesel will be increased by Rs. 8 and the new price would be Rs.134.
However, the price of Lanka Kerosene will remain at Rs. 70 per litre.
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Which other country in the world has a such frequently fluctuating fuel price as in this country? Name one.
Does the rulers in this country think it makes the life of people, business easy? Glad the governments in all other countries has seen the stupidity of such a frequently fluctuating fuel prices.
Indra,
In Australia, fuel prices at the Service Stations fluctuate 3-4 times at least, per day.
There is no price regulation for fuel in Australia.
The suppliers and the retailers determine prices as changes occur in the world market oil price, competitiveness and what more, the actual location of the Service Station causing supply and demand.
I am sure it is the same in all developed economies.
SL should abolish the Petroleum Corporation and privatise fuel supply and distribution.
With technology and data, SL consumers will definitely get a better deal.
Kamala,
in Australia, GDP is US $ 53,800 per person
in SL , GDP is US S 4065 per person.
Source: World Bank and https://tradingeconomics.com/sri-lanka/gdp-per-capita
I think most people on this forum and perhaps you, are capable of working out a few US $ fluctuation makes to a life of an Australian and a Sri lankan.
So Indra,
Are you saying that SL should remain a poor country forever without a proper economy and continue sending our mothers and sisters to the Middle east as domestic slaves for survival?
The Blue Leader who ruled the land for 10 years from 2005 is reported by the Forbes magazine to be worth USD 18billion. The current King is reported to be worth USD18 m after 4 years in the chair. Why is the Forbes magazine not being challenged if these numbers are incorrect?
The Central Bank is a den of thieves; it should be shut down.
Corruption is milking the nation.
The Petroleum Corporation and other State owned enterprises are oversatffed by > 5000%; that is why the cost of fuel is so high in SL.
Grace Manampitiya,
If Fobes magazine knows the total value of both the previous and current one, unless it is fictitious, they definitely know where the wealth is.
Then there are millions of people in SL and outside, including you very well know the wealth belongs to the public and was stolen by them.
So the question is, why you people get together and get the wealth back?
Indra,
Appreciate your argument.
Not only Forbes Magazine, all interested know where the leaders have stored their stolen wealth.
Unfortunately, stolen wealth is protected by strong bureaucratic process in the countries where they reside, eg: Middle East, Russia.
It is totally impossible to penetrate the bureaucracy to gain access to stolen wealth.
The Swiss Bank and Luxembourg were similar a decade.
Now they have reformed and offer to share info on wealth of individuals banking in Switzerland and Luxembourg for genuine purposes, eg: money laundering information.
Unfortunately, the Shieks in ME and Tzars in Russia thrive on stolen wealth and are not willing to share information.
Kamal,
Then you have the numbers at least. So, at home there must be big holes where such large amount of money or property missing from. There are commissions and commissions and commissions looking into this matter and so many people on the forums alone, who claim to know so much about these stolen wealth (they should know at least where they came from , if nothing else). So the authorities in SL, can put these guys in jail after having judicial process in open court where the witnesses can be cross examined. By looking at what these great witnesses and commissions have produced so far, is wasting the public money perhaps more than what claimed to have stolen. For example, when Ranil came to power, the biggest thief in Rajapaksha era was Basil. So where is he now? Of the claims against him that appeared in those days (days Ranil came to power) how much has been proven ? Pretty sad isn’t it. All people like you and Grace can do is harping without much substance. When it is time to produce something solid facts to support what you say, you cannot, because all those are in a black box somewhere none of you can access!