Ranil waxes eloquent on rising oil prices, Ukraine issue

UNP Leader, MP Ranil Wickremesinghe said oil prices in the world market could increase to around US$ 115 a barrel, due to the Russia-Ukraine crisis. Wickremesinghe told Parliament that the Finance Minister must make a statement on Ukraine and local energy crises.

He added that while Europe has stopped buying LNG from Russia and instead they will be purchasing LNG from Qatar which will see a reduction in supplies to Sri Lanka. “Therefore, there is bound to be a huge impact on our economy,”he said.

He called on the Finance Minister to make a statement regarding this issue in Parliament today (23) prior to the Opposition debate.

In addition, he requested the government to pay for the three oil ships that have arrived here, adding that this fuel is sold at the previous rates and future consignments would be at the new increased rates. “I would like to request that the government somehow pay for the three shiploads of fuel because future purchases would be under the new rates. I don’t know how you are going to pay for it, but somehow try to pay for it. There is another shipment at the earlier rates. Hence, let’s pay for these somehow at the previous rates and then we can see about future purchases later.”