Monday, September 14 2026
Monday, September 14 2026
MONETABRIEF – Sri Lanka may hike fuel prices, or provide subsidies for distributors to cover higher costs, Energy Minister Aruna Karunathilake told reporters after Houthi advances along the Red Sea coast pushed up oil prices.
"We are selling fuel below the international price. Several private distributors have said they cannot continue to sell at current prices, " Karunathilake said in comments broadcast over Sri Lanka's Derana television.
"It can be done in several ways. In April and May the government gave a fuel subsidy. We can do like that or we can make a decision on the price. There can also be an option to sell fuel within a upper and lower limit."
Private distributors have said they are losing 140 rupees (a litre) in one case and 160 in the case of another, depending on the landed cost, he said.
Chairman of Sri Lanka's state-run Ceylon Petroleum Corporation said the firm is losing around 60 rupees a litre.
However they firm had stocks imported at lower cost last month and it also had profits from the refinery.
In addition CPC also had revenue from aviation oil sales, he said. (Colombo/Sept14/2026)
| 3 month bill | 9.22% | 22bp ▼ |
| 12-m bill | 9.91% | 10bp ▼ |
| Gold (Ounce) | $4602 | - - |
Comments
Be the first person to comment and join the debate