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  • World
  • Updated: June 26, 2022

Sri Lanka Hikes Fuel Prices As Country Battles Economy Drop

Sri Lanka Hikes Fuel Prices As Country Battles Economy Drop

Sri Lanka has raised its fuel prices as officials from the US arrived for talks in an effort to support the country amid its economic crisis.

The move of the high price comes a day after the energy minister Kanchana Wijesekera said there would be an indefinite delay in getting new shipments of oil.

Ceylon Petroleum Corporation (CPC) on Sunday said it had raised the price of diesel by 15 per cent, while upping petrol 22 per cent.

Wijesekera said oil due last week had not turned up while shipments scheduled to arrive next week would also not reach Sri Lanka because of banking reasons.

The UN has already issued an emergency appeal to raise $47 million to feed the most vulnerable segments of the country's 22 million people.

According to the UN, about 1.7 million Sri Lankans need life-saving assistance, with four out of five people reducing their food intake due to severe shortages and high prices.

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