Sri Lanka has increased fuel and transport prices, a long-flagged move to combat its debilitating economic crisis, but the hikes are bound to exacerbate galloping inflation, at least in the short term.
Power and energy minister Kanchana Wijesekera said in a message on Twitter on Tuesday that petrol prices would increase by 20-24 percent while diesel prices would rise by 35-38 percent with immediate effect.
“Cabinet also approved the revision of transportation and other service charges accordingly”, he said.
(1) Fuel Price will be revised from 3am today. Fuel pricing formula that was approved by the cabinet was applied to revise the prices. Price revision includes all costs incurred in importing, unloading, distribution to the stations and taxes. Profits not calculated and included.
Wijesekera said also that people would be encouraged to work from...
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