After Pakistan, the price of petrol and diesel in Sri Lanka increased by up to Rs 20
Crude oil prices have reached $ 100 per barrel amid Russia’s attack on Ukraine, which is a record level of crude oil in seven years. Due to this, countries like India, Pakistan and Sri Lanka are also under pressure to increase the prices. Giving a big blow to the public on Saturday, Sri Lanka has increased the prices of petrol by Rs 20. It has made this increase citing increase in international prices of crude oil. Lanka Indian Oil Corporation has made this increase for the second time in a month. Diesel has also become costlier by Rs 15 in Sri Lanka. Pakistan had also increased the price of petrol by Rs 12.30 and diesel by Rs 9.5 last week.
The price of petrol in Pakistan has gone up to Rs 159.86 per liter and the rate of high speed diesel to Rs 147.83 per liter. From Monday, the rate of petrol can be Rs 9.60 and diesel by Rs 8.50 more. Now in Sri Lanka, the price of petrol has gone up to Rs 204 per liter and diesel has reached Rs 139 per liter. In India, at present the price of petrol in Delhi is Rs 95.41 per liter and diesel is Rs 86.67 per liter.
This increase in Sri Lanka comes at a time when Sri Lanka’s Finance Minister Basil Rajapaksa’s visit to India seems to be delayed further, Sri Lanka is seeking more help from India to overcome economic difficulties. Basil is the younger brother of Sri Lankan President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa. However, officials say that due to difficulties in fixing the dates, the journey has been delayed. The visit of the Sri Lankan minister is considered important for getting cheap loan of one billion dollars from India and import of food items and medicines.
In this one billion dollar aid, $ 400 million will be in the form of currency transactions. This will help Sri Lanka to increase its foreign exchange reserves. The Sri Lankan government last week admitted that it did not have enough cash in foreign exchange reserves to buy fuel and there was a shortage of petrol and diesel at petrol pumps. There is also a crisis of food and medicine in Sri Lanka. Due to this, inflation has reached the previous record 25 percent. Sri Lanka’s tourism industry, which is considered a major source of foreign income, has been badly affected in the last two years due to the Corona crisis.
