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Sri Lanka raised substance prices by 25% connected Sunday (March 22, 2026), the 2nd summation successful 2 weeks, arsenic the state prepared for much interaction from the warfare successful West Asia.
Regular petrol was accrued to 398 rupees ($1.30) per litre, up from 317 rupees, portion diesel, the substance commonly utilized for nationalist transport, roseate by 79 rupees to 382.
Iran-Israel war: Follow LIVE updates connected March 22, 2026
Last week, the authorities ordered an 8% summation successful retail substance prices and introduced rationing to bounds consumption.
"We anticipation to execute a 15% to 20% simplification successful substance depletion with the latest increase," an authoritative astatine the Ceylon Petroleum Corporation said.
He said President Anura Kumara Dissanayake told them past week that the state indispensable hole for a prolonged struggle successful West Asia that could impact the island's vigor supplies.
The president ordered a four-day moving week from past Wednesday (March 18, 2026) and asked employers to reintroduce work-from-home arrangements wherever possible.
The Strait of Hormuz, a cardinal waterway done which immoderate 20% of planetary lipid exports walk successful peacetime, has been efficaciously closed by Iran successful retaliation implicit the US and Israeli warfare against it, present entering its 4th week.
Sri Lanka imports each of its lipid and besides buys ember for energy generation.
Sri Lanka buys refined petroleum products from Singapore, Malaysia and South Korea, portion crude lipid for its Iran-built refinery is sourced from West Asia.
The authorities has warned that the warring successful West Asia, and a prolonged war, could earnestly undermine its efforts to look from the economical meltdown of 2022.
Sri Lanka defaulted connected its $46 cardinal overseas indebtedness successful 2022 aft the state ran retired of overseas exchange. Since then, Colombo has secured a $2.9 cardinal IMF bailout.
