Friday, May 3, 2024

Sri Lanka increases fuel price third time in two months

In two months, cash-strapped Sri Lanka has imposed the third fuel price increase as a campaign demanding that President Gotabaya Rajapaksa step down continued, officials said.

• May 24, 2022
Sri Lankan protesters
Sri Lankan protesters [Photo Credit: Arab News]

In two months, cash-strapped Sri Lanka has imposed the third fuel price increase as a campaign demanding that President Gotabaya Rajapaksa step down continued, officials said.

A sharp price increase in petrol and diesel was put into effect on Tuesday, triggering a chain reaction, including a rise in public transport fares.

Minister of Power and Energy Kanchana Wijesekara said the price of octane 92 petrol had been increased by ₹82 ($0.23) per litre, bringing the price to ₹420 rupees.

Meanwhile, diesel had been increased by 1₹11 per litre to ₹400.

The move came as the country was hit by an unprecedented economic crisis that created fuel, gas and medicine shortages.

The government had sought assistance from India, China and Japan and international donor agencies to provide funding for purchases of medicines, fuel and gas.

A group of protesters had been carrying out a campaign outside the president’s office for 45 days demanding that Mr Rajapaksa step down from office, the police said.

The president’s brother Mahinda Rajapaksa, the prime minister, stepped down from office on May 9, after a wave of violence sparked off by an attack on anti-government protesters by pro-government supporters.

Mobs attacked ruling party members’ houses and their supporters, burning at least 200 of their houses and destroying their vehicles and property.

Ranil Wickremesinghe, an opposition member and veteran politician who had previously held the position five times, had been named prime minister again.

He had launched an economic recovery programme but warned that the public would face more hardships. 

(dpa/NAN) 

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