In response to the government’s decision to increase fuel prices from midnight today (11), the United National Party (UNP) stated that this is another indication of the government’s continued economic mismanagement and short-sighted policies. Further, the UNP also mentioned that in May 2020, global oil prices fell as low as US $30.38 a barrel. It was also highlighted that the SLPP Government had rejected the fuel price formula introduced by the UNP in 2018. “This meant that the local fuel prices did not reduce to reflect the global prices. Savings which could have been incurred by the drop in global prices were not passed onto the consumers,” the UNP said.

Source: The Nation June 11, 2021 18:56 UTC