Sri Lanka has increased fuel prices by 25 percent on Sunday, marking the second hike within two weeks as the country braces for the impact of rising global oil prices linked to the Middle East conflict.
The price of regular petrol has been raised to 398 rupees per litre from 317 rupees, while diesel, widely used in public transport, has gone up by 79 rupees to 382 rupees per litre.
Officials from the Ceylon Petroleum Corporation said the increase is expected to help reduce fuel consumption by around 15 to 20 percent.
President Anura Kumara Dissanayake has warned of a prolonged crisis in the Middle East that could disrupt energy supplies. In response, the government has introduced measures such as a four-day workweek and encouraged work-from-home options to conserve fuel.
The situation has been further strained by disruptions in the Strait of Hormuz, a key global oil route through which about 20 percent of the world’s oil passes under normal conditions.
Sri Lanka relies entirely on imported fuel, sourcing refined petroleum from countries like Singapore, Malaysia, and South Korea, while crude oil for its refinery comes mainly from the Middle East.
