Commuters won’t benefit from fuel price reduction: LPBOA

The price of a new bus has increased from Rs.1 million to Rs.1.5 million

The profit gained from the recent fuel price reduction cannot be granted to commuters, said Gemunu Wijeratne, Chairman of the Lanka Private Bus Owners’ Association (LPBOA).

Petrol and diesel prices were reduced by Rs.5 per litre with effect from last Thursday (15).

Addressing a media briefing held yesterday, Mr. Wijeratne said the prices of tyres, spare parts and oil varieties had gone up owing to the further depreciation of the Sri Lankan Rupee against the US Dollar. “The government had done nothing to reduce the prices of tyres and spare parts.

The price of a new bus has increased from Rs.1 million to Rs.1.5 million. With such expenses, the private bus service cannot grant the benefit of the fuel price reduction to commuters,” he said.