Independent Sri Lankan news intelligence
Private fuel suppliers in Sri Lanka are calling for a diesel price hike, reporting losses of Rs. 100 to Rs. 163 per litre due to global energy market turmoil and the discontinued government subsidy. The Ceylon Petroleum Corporation denies any fuel shortage, managing diesel losses through refinery profits, while the Ministry of Energy confirms ongoing discussions with stakeholders to resolve the pricing issue.
Sri Lanka's Minister of Power, Anura Karunatilaka, announced that a price revision or subsidy could be provided to private diesel distribution companies, which have been requesting a mechanism to revise prices and are currently limiting supplies due to losses. Middle East tensions have driven Brent crude oil prices to $108 and Dubai crude oil prices to $102.8 per barrel.
