🇱🇰 Sri Lanka Revised Fuel Prices by ~25% - 30%

🇱🇰 Sri Lanka Revised Fuel Prices by ~25% - 30%

⭕️ Petrol 92: Rs. 317 to Rs. 398 (⬆️ Rs. 81, +25.55%)

⭕️ Petrol 95: Rs. 365 to Rs. 455 (⬆️ Rs. 90, +24.66%)

⭕️ Auto Diesel: Rs. 303 to Rs. 382 (⬆️ Rs. 79, +26.07%)

⭕️ Super Diesel: Rs. 353 to Rs. 443 (⬆️ Rs. 90, +25.50%)

⭕️ Kerosene: Rs. 195 to Rs. 255 (⬆️ Rs. 60, +30.77%)

⭕️ The Iran war has disrupted global oil supply and pushed energy prices higher worldwide. Sri Lanka has been somewhat slow to respond to those global price movements.

⭕️ If the government had acted last week by doing this instead of reintroducing rationing to “reduce demand,” it could have reduced demand with minimal disruption to the economy and people’s daily lives.

⭕️ Sri Lanka adjusts fuel prices monthly under a formula, but during a crisis the government should have a clear written provision to respond faster to global price shifts by activating weekly revisions, with that mechanism announced in advance. This would make price changes more systematic, help fuel users and companies plan ahead, and allow them to factor costs and uncertainty into pricing instead of facing ad hoc revisions.

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