Sri Lanka to reduce fuel prices as economy improves
On Wednesday, Sri Lanka’s Power and Energy Minister Kanchana Wijesekera said that fuel prices would reduce in the country from midnight of March 29.
The price of 92 octane petrol would reduce by 60 rupees ($0.18) to 340 rupees per litre, and that of 95 octane petrol would fall by 135 rupees to 375 rupees per litre.
The price of diesel would be reduced by 80 rupees to 325 rupees per litre, and that of super diesel would be reduced by 45 rupees to 465 rupees.
Meanwhile, kerosine prices would reduce by 10 rupees to 295 rupees.
Mr Wijesekera said that the Sri Lankan government would reduce fuel prices due to falling international oil prices.
According to him, the crisis-ridden country can now get competitive prices from suppliers due to the International Monetary Fund (IMF) loan approval.
The minister also said the Sri Lankan rupee is appreciating against the dollar.
According to the minister, President Ranil Wickremesinghe has advised him to reduce fuel prices following the IMF bailout package and the stabilisation of the economy.
Sri Lanka had increased fuel prices by more than 200 per cent in 2022 amid an economic crisis in the South Asian country. (one dollar equals about 324.5 Sri Lankan rupees).
(Xinhua/NAN)
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