Sri Lanka Raise Fuel Prices After IMF Loan Instalment - New Straits Times Online
The move follows a $695 million IMF loan instalment as Colombo phases out fuel subsidies to recover energy costs and stabilize the economy.
- On Sunday, Sri Lanka raised fuel prices by up to 6%, with the state-run Ceylon Petroleum Corporation increasing petrol to 434 rupees from 410 rupees and diesel to 407 rupees from 392 rupees.
- The International Monetary Fund released a $695 million installment of a $2.9 billion bailout loan days before the hike, requiring Colombo to phase out energy subsidies to stabilize the cash-strapped economy.
- President Anura Kumara Dissanayake committed in a letter to the IMF that fuel subsidies will be phased out entirely by September, aligning with the lender's cost-recovery requirements for both fuel and electricity.
- The price increases occur amid global energy instability following the closure of the Strait of Hormuz by Iran, a waterway through which about 20% of global oil exports pass in peacetime.
- Colombo warned that prolonged conflict in West Asia could undermine its recovery from the 2022 economic crisis, when the nation defaulted on $46 billion in foreign debt before drawing down IMF bailout funds.
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New Strait Times
Sri Lanka raise fuel prices after IMF loan instalment - New Straits Times Online
COLOMBO: Sri Lanka raised fuel prices by up to six percent on Sunday, in line with IMF plans to recover energy costs and phase out subsidies to stabilise the economy.
Sri Lanka raises fuel prices across all major categories – The Indian Awaaz
Last Updated on May 31, 2026 7:55 pm by INDIAN AWAAZ AMN/ WEB DESK Sri Lanka has raised fuel prices across all major categories, with the new rates taking effect from midnight last night. The move comes days after the International Monetary Fund approved the release of about 695 million US dollars under the island nation’s ongoing reform programme. State-owned Ceylon Petroleum Corporation increased the price of 92-octane petrol by 24 Sri Lankan …
Free Malaysia Today News
newscentraltv.comSri Lanka raises fuel prices after IMF loan instalment
Petrol was raised to 434 rupees (RM5.21), up from 410, while diesel increased to 407 rupees a litre from 392. (AFP pic) COLOMBO: Sri Lanka raised fuel prices by up to 6% on Sunday, in line with IMF plans to recover energy costs and phase out subsidies to stabilise the economy. Petrol was raised to 434 rupees (RM5.21), up from 410, while diesel increased to 407 rupees a litre from 392, the state-run Ceylon Petroleum Corporation said. The price hi…
Sri Lanka: fuel prices rise after payment of a tranche of IMF loan Admin FCE 31 May 2026 - 07:00 Sri Lanka increased fuel prices by up to 6% on Sunday, in line with IMF plans to recover energy costs and phase out subsidies to stabilize the economy.The price of gasoline rose to 434 rupees (1.13 euros) per litre, compared with 410 previously, while the price of diesel increased to 407 rupees per litre (1.06 euros), compared with 392, according to …
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