The Government will seek to absorb part of the impact of rising global fuel prices without passing the entire burden on to consumers when fuel prices are reviewed at the end of this month, Energy Minister Anura Karunathilake said.
Speaking in Parliament today (23), the Minister said fuel prices in the global market have increased once again, placing pressure on domestic fuel prices.
However, he said the Government does not intend to pass the full impact of the global price increase on to fuel consumers in Sri Lanka.
Karunathilake said fuel prices are reviewed at the end of every month and that information regarding the latest situation would be provided to the public today.
Referring to the upcoming fuel price revision at the end of this month, the Minister said the Government would consider bearing a portion of the burden arising from higher global prices.
“Even though fuel prices in the world market have increased, we will not take steps to pass this entire burden on to the consumers of the country,” he said.
The Minister noted that the Government had similarly absorbed part of the pressure from fuel prices during April, May and June.
“Just as the Government took on a portion of that pressure and burden during last April, May and June, we are looking at taking action after reviewing fuel prices at the end of this month,” he said.
Karunathilake said the Government would approach the upcoming price review with the intention of protecting consumers from having to bear the full impact of the increase in international fuel prices.
“We believe that, as a responsible Government, without passing this entire burden on to fuel consumers, a portion of that burden should be borne by the Government,” the Minister said. (Newswire)
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