Private Bus Owners Hit the Brakes on Fare Hike Plans

COLOMBO (News 1st); The Lanka Private Bus Owners’ Association has announced that the annual revision of bus fares will be postponed until August. The decision comes in light of the current stability in fuel prices, which has not warranted an immediate adjustment.

According to the Association’s Chairman, Gemunu Wijeratne, the absence of a recent fuel price hike was a key factor in deferring the fare revision. He noted that discussions are ongoing with other transport associations to ensure a unified approach.

Wijeratne explained that the association considers 12 key factors when calculating fare adjustments under the national policy framework. While fuel prices have recently decreased, offering a benefit of approximately Rs. 9 per litre, concerns remain about potential future increases and their impact on operational costs.

Fuel accounts for roughly one-third of a bus’s operating expenses, with a direct influence of about 2.5% on total costs. However, other cost components have seen increases of up to 7.7%, prompting the association to carefully evaluate the sustainability of the industry before implementing any changes.