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$1 Rise = Rs 2: Sri Lanka to Raise Fuel Prices Soon
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Sri Lanka faces Rs2 pump hike for every $1 global oil rise: President
ECONOMYNEXT — For every one-dollar increase in global oil price, the cost at local pumps must rise by approximately 2 rupees, Sri Lanka’s President Anura Dissanayake told parliament, noting that price volatility has outpaced projections. Sri Lanka’s fuel prices face severe upward pressure from spiking global oil rates and surging supplier premiums triggered by the conflict, Dissanayake said. He warned of a double blow as global benchmarks rise a…
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