Sri Lanka Considers Fuel Price Revision or Subsidy Amidst Rising Costs

Energy Minister Anura Karunatilaka announced that Sri Lanka may need to implement a fuel price revision or provide a subsidy to private fuel distribution companies. This potential move comes as private companies cite challenges in operating due to the gap between costs and current selling prices, leading to limited diesel supply at some stations. The Minister attributed the situation to rising global fuel prices, geopolitical instability in the Middle East, and the depreciation of the Sri Lankan Rupee against the US Dollar. Decisions regarding fuel price adjustments are typically made at the end of each month, considering these economic factors and the requests from private distributors.