“Whilst oil prices have pulled back in recent weeks, the world at large continues to pay very much more for oil than it did a year ago – and there’s nothing to stop it from shooting up again, given the extreme sensitivities and market volatility this year,” a spokesperson for leading business magazine told The Bottom Line yesterday.
She was referring to the results of the latest LMD-TNS Lanka island-wide survey, which asked respondents who should take responsibility for the high petrol and diesel prices.
LMD’s latest edition observes that, “half of those polled put the blame fairly and squarely on the Government. They point out that a responsible administration should be willing and able to face such crises and introduce pricing mechanisms to reduce the cost of petroleum-related products.”
But the spokeswoman notes that, “whilst something like 40 per cent of respondents to the poll point an accusing finger at the CPC, the majority maintains that it is pointless to blame the corporation”. This, she adds, is “because it is a state-owned enterprise”.
LMD says: “Respondents to our survey are equally split on the question of subsidization. Forty seven per cent say ‘yes’ while the response of 46 per cent is ‘no’. Those in favour claim that subsidisation is beneficial to the public – already reeling under the skyrocketing cost of living – and also note that a majority of the people in this country are poor and in need of urgent relief. Respondents who oppose subsidies point out that it is time we found an alternative way forward, as the Government cannot afford to continue subsidising prices.”
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TNS Lanka also asked respondents whether future generations would enjoy lower petrol prices if Sri Lanka’s oil-exploration efforts were successful. “And almost 75 per cent strike a positive note, citing savings on oil imports and reduced costs of transportation,” the magazine reports.
The September issue of LMD will be available at leading bookstores and supermarkets across the island on 5 September.
The issue carries a comprehensive cover feature on the twin oil and food crises, which includes expert comments and analyses.
QUOTE
“Respondents to our survey are equally split on the question of subsidisation – 47 per cent say ‘yes’ while the response of 46 per cent is ‘no’…”
– LMD, reporting on island-wide poll conducted by TNS Lanka

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