Sri Lanka fuel prices hiked amidst Mid-East Crisis

Sri Lanka has announced a further fuel price hike amid rising global oil prices, driven by supply disruptions linked to the Middle Eastern crisis.

Following the latest increase, fuel prices in Sri Lanka are as follows:

Petrol 92 – Rs. 398
Petrol 95 – Rs. 455
Auto Diesel – Rs. 382
Super Diesel – Rs. 443
Kerosene – Rs. 255

According to reports on global economic trends, WTI crude oil futures rose to around $98 per barrel during the day.

The price hike in Sri Lanka is expected to lead to increases in the cost of essential food items and related goods in the coming days and weeks.

Transportation is one sector that is likely to see price revisions soon, along with several other areas of the economy

Last week the government introduced a fuel quota mechanism as a contingency plan to manage the fuel supply in the country amidst the disruption to global oil production and supply, owing to the middle eastenr conflict.