March 29, 2023
1 min read

Lanka slashes fuel prices

Sri Lanka increased fuel prices by over 200 per cent in 2022 amid the worst-ever economic crisis in the island nation since independence in 1948….reports Asian Lite News

Sri Lanka’s Power and Energy Minister Kanchana Wijesekera said on Wednesday that fuel prices will be reduced in the country from Friday midnight.

The price of 92 Octane petrol will be reduced by 60 LKR ($0.18) to 340 LKR per liter, and that of 95 Octane petrol will fall by 135 LKR to 375 LKR per liter, reports Xinhua news agency.

The price of diesel will be reduced by 80 LKR to 325 LKR per liter and that of super diesel will be reduced by 4 LKR to 465 LKR.

Meanwhile, the price of kerosine will be reduced by 10 LKR to 295 LKR.

Wijesekera said last week that the Sri Lankan government would reduce fuel prices as a result of falling international oil prices and the crisis-ridden country now having the ability to get competitive prices from suppliers due to the International Monetary Fund loan approval.

The Minister also said the Sri Lankan rupee is appreciating against the US dollar.

According to Wijesekera, President Ranil Wickremesinghe had advised him to reduce fuel prices following the IMF bailout package and the stabilization of the economy.

Sri Lanka increased fuel prices by over 200 per cent in 2022 amid the worst-ever economic crisis in the island nation since independence in 1948.

ALSO READ: India, US, Japan secure IMF bailout for Sri Lanka

Previous Story

Covid infected over 15 million kids in US

Next Story

Stampedes at Pak free flour centres kill 2

Latest from -Top News

Modi, Xi to Meet at SCO Summit

This will be PM Modi’s first visit to China in last seven years and the first since the Galwan Valley faceoff…reports Asian Lite News Prime Minister Narendra Modi and Chinese President Xi

Flood fury pushes Pakistan to the edge

Pakistan battles deadly monsoon floods as death toll surpasses 850, with Khyber Pakhtunkhwa worst-hit, rivers swelling in Punjab, and authorities scrambling to save lives amid looming humanitarian crisis….reports Asian Lite News Pakistan

Ranil freed on bail

Former Sri Lankan President Ranil Wickremesinghe freed on bail amid corruption probe, as health concerns and political backlash fuel debate over justice, vengeance, and the future of Sri Lanka’s fragile democracy….reports Asian
Go toTop

Don't Miss

Lanka Engages Multilateral Agencies for Economic Recovery Talks

The focus of the discussions was on the government’s reform

MEDIA SCAN: Air India cancels US flights and Bangladesh hailed a model country

Air India cancelled several of its flights to the US