3 months ago
1
Sri Lanka has accrued retail substance prices by implicit 8% with effect from Monday midnight (March 10, 2026) successful a bid to curb hoarding and panic buying amid rising planetary crude lipid prices, officials said connected Tuesday.
The terms revision comes arsenic global crude lipid prices crossed $100 per tube for the archetypal clip successful 4 years pursuing escalating tensions successful West Asia.
Israel-Iran warfare LIVE updates - March 10
Under the latest revision, the prices of wide utilized petrol and diesel varieties person been accrued by LKR 22 per litre, the state-run Ceylon Petroleum Corporation (CPC) said.
The determination is aimed astatine curbing hoarding and panic buying, it said.
"We person noticed dense depletion since the quality of the Middle East warfare situation," a CPC authoritative said.
Long queues person been seen extracurricular substance stations since February 28 aft hostilities intensified pursuing U.S.-Iran strikes against Iran, triggering fears of proviso disruptions.
The CPC said Sri Lanka presently has capable substance stocks to past until the extremity of April.
