(UTV | COLOMBO) – Minister of Passenger Transport Management Mahinda Amaraweera says information sources have revealed that fallen global fuel prices, will significantly increase once again by the end of this year.
However speaking at a rally in Tangalle, the Minister assured that regardless of how high crude oil prices may rise, fuel prices in Sri Lanka will not be increased under any circumstances within the year.
He explained that the country and peoples livelihoods took back steps due to the crisis, adding that state profits were lost as taxes were reduced.
Minister Amaraweera noted therefore that the government earned income through fuel, although many called for fuel prices to be reduced earlier.
However the subject Minister stressed that if the government had reduced fuel prices at the time, then prices would have been increased now.
He noted all profits incurred from fuel prices are being allocated to a state fund.