A hike in private bus fares could be on the cards next month if global fuel prices continue to climb as a result of the ongoing Israel-Iran conflict, according to Lanka Private Bus Owners’ Association (LPBOA) President, Gemunu Wijeratne.
Wijeratne told The Island yesterday (20), that the annual bus fare revision, scheduled for the 1st of next month, could lead to a revision in fares, should fuel prices in the global market remain on an upward trajectory.
He said that while fuel prices are already high due to the prevailing geopolitical tensions, the Association is cautious about pushing for a fare increase immediately, warning that such a move could adversely affect the industry in the current economic climate.
However, Wijeratne emphasised that if international fuel prices stabilise and remain at their present levels, a fare hike may not be necessary.
“The situation is being closely monitored. We hope that the global market stabilises, but if fuel prices continue to rise, we will have no choice but to adjust fares accordingly,” he added.
By Pradeep Prasanna Samarakoon 