Sri Lanka Raises Fuel Prices Amid Ongoing West Asia Tensions

In response to the West Asia conflict, Sri Lanka's Ceylon Petroleum Corporation has once again raised fuel prices. This fifth increase sees petrol prices rise to LKR 434 per litre, with diesel and kerosene prices also adjusted upward.

Sri Lanka's state-controlled Ceylon Petroleum Corporation (CPC) has announced a new increase in fuel prices across the nation, citing disruptions in the global energy supply due to the ongoing turmoil in West Asia. The price adjustment took effect from midnight, marking the fifth increase under recent pressures.

The latest change pushes the price of petrol up by 5.85%, bringing it to LKR 434 per litre from the previous LKR 410 per litre. Diesel has also been affected, rising by 3.83% to reach LKR 407 per litre, while the cost of kerosene has climbed by 20 rupees, now priced at 285 rupees per litre.

The announcement follows repeated calls from the country's president for reduced consumption amidst the current global scenario. Since March, fuel costs have surged several times, partially due to the depreciating Sri Lankan rupee, which has lost over 5% of its value this year despite some recent recovery.