No bus fare reduction despite fuel price reduction -Operators

COLOMBO (News1st); Bus operators said bus fares cannot be reduced despite the reduction of diesel prices.

President of the Lanka Private Bus Owner's Association Gemunu Wijeratne said a fare reduction could only be made in July.

Wijeratne said the annual fare revision was in July 2023, based on the pricing formula in the national policy on bus fares.

He added that there were various price fluctuations over the past 10 months, and they've been operating at a loss for the past three months.

Wijeratne said for bus fares to be reduced, the diesel prices should be reduced by at least Rs.55.

He said however, the recent fuel price revision only allowed for a profit of Rs.3, and if fares are to be revised accordingly, it will have to be done when the annual fare revision is done on the 1st of July.

The Ceylon Petroleum Corporation (CEYPETCO) revised fuel prices with effect from midnight on Tuesday (30).

A litre of 92 Octane Petrol was reduced by Rs.3, to Rs.368.

95 Octane Petrol was reduced by Rs.20, and the revised price is Rs.420.

Lanka Auto Diesel was reduced by Rs.30, to Rs.333.

Lanka Super Diesel 4 Star Euro 4 was reduced by Rs.9, to Rs.377.

Lanka Kerosene was also reduced by Rs.30, and the revised price is Rs.215.

Lanka IOC also reduced fuel prices in line with the CPC fuel price revision.