Sri lanka News – Sri Lanka has raised the petrol price to 470 rupees a litre by 50 rupees and auto diesel to 460 rupees a litre by 60 rupees an energy ministry official said as the country reels from fuel shortages amid money printing.
Prices at both state-run Ceylon Petroleum Corporation and Lanka IOC have been raised by the same proportion.
Petrol Octane 95 was raised by 100 rupees to 550 rupees a litre.
Super diesel was raised by Rs75 to Rs520 per litre.
Sri Lanka’s rupee has collapsed from 200 to 360 to the US dollar in the wake of a botched float with forced dollar sales to the central bank (surrender requirement) and forex shortages are persisting with continued money printing.
Sri Lanka is now under severe fuel shortages with the country unable to find dollars to pay large import bills amid the liquidity injections. (Colombo/June26/2022)