Sri Lanka compelled to review fuel prices amid rising global costs: Minister Anura

18-Aug-2026

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Sri Lanka has been compelled to review fuel prices due to rising fuel prices in the international market and increases in insurance and transportation costs, Energy Minister Anura Karunatilaka said.

Elaborating on the matter, he said the Ministry of Energy has decided to examine the current expenditure incurred on fuel imports before deciding whether to request a new subsidy from the Government or take alternative measures, including revising fuel prices.

A comprehensive review will be conducted within the next two weeks.

The review will consider whether to restore the Rs.15 billion subsidy previously provided by the Government but subsequently suspended, or revise fuel prices to cover the losses.

He said the last fuel price revision was made in June and implemented in July, while no change was made to fuel prices this month.

Meanwhile, Ceylon Petroleum Corporation Chairman Janaka Rajakaruna said fuel prices have increased by 48 per cent compared with February, when the war in West Asia began.

Although fuel is imported from countries including India, Singapore and South Korea, the increase in international market prices, coupled with higher insurance and transportation charges, has emerged as a major challenge, he noted.