Sri Lanka will restrict fuel imports for the next 12 months as it is facing a severe shortage of foreign exchange, Minister of Power and Energy Kanchana Wijesekera has said while announcing a rationing system.
Aiming to provide fuel to the public in an orderly manner amidst its worst energy crisis, the Sri Lankan government has introduced fuel passes that will guarantee a weekly quota to every vehicle owner.
Sri Lanka's state-run Ceylon Petroleum Corporation (CPC) on Sunday reduced the diesel and petrol retail prices, the first decrease after five hikes since February.
The state-run Ceylon Petroleum Corporation's (CPC) new price of 92 octane petrol Rs 338 per litre is an increase of Rs 84 and now matches the per litre price of Lankan Indian oil company (LIOC).