June 12, Colombo: The government’s recent hike in fuel prices is another indication of their continued failed economic management and short-term policies, the United National Party (UNP) says.

Commenting on the fuel price hike effective from midnight Friday, the UNP said due to the refusal of this government to continue the positive measures introduced by the previous UNP government the public has borne a growing financial burden.

The following is an indication of the ability of the UNP to keep the cost of living constant during the 2015-2019 period.

* January 1, 2015:
# Petrol 95 Octane - Rs. 158
# Petrol 92 Octane - Rs. 150

* November 1, 2019:
# Petrol 95 Octane - Rs. 161
# Petrol 92 Octane - Rs. 137

* June 11, 2021:
# Petrol 95 Octane - Rs. 184
# Petrol 92 Octane - Rs. 151

In May 2020, global oil prices fell to $ 30.38 a barrel. However, the Sri Lanka Podujana Peramuna government has rejected the fuel price formula introduced by the UNP government in 2018. They said that domestic fuel prices did not fall as reflected in global prices. However, the possible savings from the fall in global prices were not passed on to consumers.

“Due to the continuous stagnation of the Sri Lankan economy and the drastic closure of the country, the earnings of the citizens have been greatly reduced. Today’s fuel increase is only an increase in the financial burden on the public. This is a major indicator of the government's financial inaction,” the UNP said.