Rising global tensions and shipping disruptions are pushing Sri Lanka toward another fuel price hike, deepening fears over inflation and cost of living.
Sri Lanka is bracing for another potential fuel price increase, with Ceylon Petroleum Corporation sources warning that a revision could take place by the end of this month or early April. The anticipated fuel price hike is closely linked to the ongoing Middle East conflict, which has disrupted global oil supply chains and driven up fuel import costs.
Industry insiders indicate that this increase may exceed the previous adjustment, as crude oil prices continue to climb in the world market. In addition, rising insurance premiums, freight charges, and shipping costs have significantly inflated the overall fuel import bill, placing further strain on Sri Lanka’s energy sector.
Estimates suggest that fuel prices could rise between 5 and 10 percent, reflecting both external pressures and logistical challenges. A senior CPC official acknowledged the high probability of an increase, although the exact timing of the price revision remains uncertain.
Compounding the issue, delays have been reported in the arrival of major fuel shipments, including 90,000 metric tons ordered by CPC and 35,000 metric tons by a private supplier. While a separate shipment of 40,000 metric tons has reached the island, private sector importers are also seeking price adjustments to offset rising costs, signaling broader economic pressure ahead.
