Bus operators have said bus fares cannot be reduced despite the reduction of diesel prices. President of the Lanka Private Bus Owners’ Association – Gemunu Wijeratne has 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.
Wijeratne said for bus fares to be reduced, the diesel prices should be reduced by at least Rs.55.
Noting that there were various price fluctuations over the past 10 months, he said that they’ve been operating at a loss for the past three months with the recent price revision only allowing a profit of Rs.03.
As per the monthly fuel revision, fuel prices were reduced from midnight yesterday.
