Fuel Price Rise Sri Lanka

Crisis-hit Sri Lanka today raised the petrol price by 24.3 per cent and diesel by 38.4 per cent, a record hike in fuel prices amidst the country's worst economic crisis due to the shortage of foreign exchange reserves.

The situation in Sri Lanka is so bad that there is shortage of food, fuel, long power cuts and a massive rise in prices across the board. Why has this happened? What has caused this economic crisis - the worst that Sri Lanka has ever seen?

Indian Oil Company's Sri Lanka unit has sought government approval for retail price hike in view of depreciating currency and rising crude prices globally.

Crisis-hit Sri Lanka today raised the petrol price by 24.3 per cent and diesel by 38.4 per cent, a record hike in fuel prices amidst the country's worst economic crisis due to the shortage of foreign exchange reserves.

The situation in Sri Lanka is so bad that there is shortage of food, fuel, long power cuts and a massive rise in prices across the board. Why has this happened? What has caused this economic crisis - the worst that Sri Lanka has ever seen?

Indian Oil Company's Sri Lanka unit has sought government approval for retail price hike in view of depreciating currency and rising crude prices globally.