ANI
26 Jun 2022, 17:55 GMT+10
Colombo [Sri Lanka], June 26 (ANI): Amid the economic crisis in Sri Lanka, the Ceylon Petroleum Corporation (CPC) gas on Sunday decided to increase the fuel prices with effect from 2 am.
The prices of a litre of petrol 92 octane have been increased by Rs 50 while a lite of petrol 95 octane has been increased by Rs 100, Daily Mirror reported.
According to the publication, the auto diesel has also been increased by Rs 60 and a litre of Super Diesel has been increased by Rs. 75.
Accordingly, the new price of a litre of Petrol Octane 92 is Rs. 470 and Octane 95 is Rs. 550.
At the same time, the Lanka IOC, a subsidiary of Indian Oil Corporation, has also increased the fuel prices and now both the CEYPETCO and the LIOC fuel prices stand equal, reported Daily Mirror.
Meanwhile, Sri Lanka has decided to limit fuel for private vehicles as the fuel shortage continues to worsen in the Island nation.
Sri Lanka will not receive the shipments of petrol, diesel and crude oil, scheduled for this week and next week due to banking and logistic reasons.
"Sri Lanka will not receive shipments of petrol, diesel and crude oil, scheduled for this week and next week," Minister of Power and Energy Kanchana Wijesekera said on Saturday.The minister said that suppliers have informed state-owned fuel importer and distributor Ceylon Petroleum Corporation (CPC) that they will not make the scheduled deliveries due to banking and logistic reasons.
In a further statement, Wijesekera said that public transportation, power generation and industries would be given priority until the next shipments arrive. Therefore, limited stocks of diesel and petrol will be distributed to a few gas stations throughout next week.
The minister urged the general public not to queue up for fuel., adding that the refinery operations will also be halted until the next crude shipment arrives.
"We are working with all new and existing suppliers. I apologize for the delay and inconvenience," he said.
Sri Lanka has been facing the worst economic crisis since independence in 1948, leading to an acute shortage of essential items like food, medicine, cooking gas and fuel across the island nation.
The nearly-bankrupt country, with an acute foreign currency crisis that resulted in foreign debt default, had announced in April that it is suspending nearly USD 7 billion foreign debt repayment due for this year out of about USD 25 billion due through 2026. Sri Lanka's total foreign debt.
The economic crisis has particularly impacted food security, agriculture, livelihoods, and access to health services. Food production in the last harvest season was 40 - 50 per cent lower than last year, and the current agricultural season is at risk, with seeds, fertilizers, fuel and credit shortages.
Sri Lanka is one of the few nations named by the Food and Agriculture Organization (FAO) which is expected to go without food due to the global food shortage expected this year. (ANI)
Get a daily dose of South East Asia Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to South East Asia Post.
More InformationJAKARTA, Indonesia: An Indonesian court sentenced Lina Lutfiawati, also known as Lina Mukherjee, to two years in prison this week ...
HONG KONG: The Chinese Foreign Ministry has issued a request to all foreign consulates in Hong Kong, seeking the personal ...
MARTIN COUNTY, Florida: An Amazon driver making a delivery to a Florida home this week was bitten by a rattlesnake ...
CALGARY, Canada: From early 2024, the long-delayed and controversial Canadian government-owned Trans Mountain oil pipeline expansion (TMX) is expected to ...
ISLAMABAD, Pakistan: Pakistan's Supreme Court proceedings were broadcast live on state television on Monday, providing an unprecedented glimpse into the ...
MORGANTOWN, Pennsylvania: Pennsylvania state police said that nine teenage boys who escaped from the Abraxas Academy detention center this week ...
PARIS, France: Amid the imminent launch of the iPhone 15, unions representing Apple store workers in France have called for ...
SEATTLE, Washington: To expand its next-day delivery services for shoppers, Amazon said it plans to hire 250,000 more U.S. workers ...
NEW YORK, New York - U.S. stocks weakened on Friday as U.S. Treasury yields continued to point higher while some ...
DUBAI, UAE - The bustling real estate market in Dubai has surged to unprecedented heights, reporting transactions valued at over ...
SHANGHAI, China: A survey published this week by the American Chamber of Commerce (AmCham) in Shanghai showed that political tensions ...
DAYTON, Ohio: Under an agreement announced this week, Joby Aviation will produce state-of-the-art electric vertical takeoff and landing (eVTOL) aircraft ...