Fuel prices in Sri Lanka have risen sharply by around 35% following the escalation of tensions linked to the Iran conflict during the administration of Donald Trump, with the latest increases implemented in two consecutive revisions by the Ceylon Petroleum Corporation (Ceypetco).
Since March 9, the price of Petrol 92 Octane has increased by Rs. 105, reaching Rs. 398 per litre, while Petrol 95 Octane has gone up by Rs. 115 to Rs. 455 per litre.
Diesel prices have also seen significant hikes. Auto Diesel has risen by Rs. 101 to Rs. 382 per litre, and Super Diesel has increased by Rs. 114 to Rs. 443 per litre.
These increases, combined with an earlier revision, have pushed overall fuel prices up by approximately one-third across key categories.
The surge reflects the global impact of rising crude oil prices amid escalating geopolitical tensions in the Middle East. Analysts note that supply uncertainties and market volatility have driven up international fuel costs, which are now being passed on to domestic consumers.
The price hikes are expected to have wide-ranging effects on Sri Lanka’s economy, including increased transportation costs, higher commodity prices, and added pressure on the cost of living.
Authorities indicate that further adjustments may depend on future developments in global oil markets and geopolitical stability in the region.
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