Sri Lanka’s Trade Minister warns that global oil volatility and tensions in the Strait of Hormuz could soon force adjustments to local fuel and gas prices despite stable supplies for now.
Sri Lanka currently has sufficient fuel supply to meet national demand at least until the end of April, according to Trade Minister Wasantha Samarasinghe, who addressed growing public concern over energy security and global oil price volatility.
The Minister assured that the government has already taken precautionary steps to maintain uninterrupted gas supply across the country. Authorities have coordinated closely with energy suppliers to ensure stable distribution networks and sufficient reserves during the coming months.
Energy sector companies responsible for gas imports have confirmed their commitment to supply approximately 380,000 metric tons of gas required for the year. Officials have also informed the government that shipping traffic and logistical supply chains remain stable at present.
However, the Minister cautioned that Sri Lanka remains vulnerable to international energy market developments. In particular, any disruption to shipping routes through the Strait of Hormuz in the Middle East could trigger a sharp increase in global crude oil and liquefied gas prices.
If such geopolitical tensions push global fuel prices upward, Sri Lanka may have to adjust its domestic fuel pricing formula accordingly.
Minister Samarasinghe said the government is already monitoring developments and holding policy discussions to protect consumers while maintaining national energy security.
