Deputy Minister Arun Hemachandra says fuel prices in Sri Lanka remain lower than the levels recorded in early 2024 despite the current surge in global oil prices.
In a statement following the fuel price revision, the Deputy Minister said that in March 2024, during a relatively stable global environment, Petrol 92 was priced at Rs. 371 per litre, diesel at Rs. 363, and kerosene at Rs. 262 when crude oil prices were around USD 85 per barrel.
He noted that the current global situation is far more challenging, with ongoing conflicts and geopolitical tensions affecting major energy supply routes and pushing crude oil prices above USD 100 per barrel.
Despite these conditions, Sri Lanka has managed to keep domestic fuel prices lower than those seen in early 2024, he said.
Hemachandra added that the government understands the pressures created by global energy volatility and will continue to manage the situation carefully while ensuring stability in the country’s energy supply. (Newswire)
