Colombo: Sri Lanka faces a fresh surge in fuel costs as the state-owned Ceylon Petroleum Corporation (CPC) announced revised prices for all fuel products, including petrol, auto diesel, and kerosene. The increase ranges from 60 to 90 Sri Lankan rupees per litre (approximately 0.19–0.29 USD), effective from midnight Saturday. Lanka IOC, another major fuel supplier, confirmed it would align its retail prices with the CPC revisions.

This marks the third fuel price hike in less than a month, following adjustments on February 28 and March 9. Diesel prices have surged to 382 rupees per litre, up from 281 rupees before the latest revision, representing a sharp 31 per cent increase.

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The steep fuel cost hike has triggered a near-total disruption of private bus services. The Lanka Private Bus Owners’ Association (LPBOA) reported that nearly 90 per cent of privately operated buses were withdrawn from service on Sunday. Bus operators cited the new fuel prices as unsustainable under existing fare structures and called for immediate fare revisions.

LPBOA President Gemunu Wijeratne stated that private operators anticipate a minimum fare increase of 15 per cent to offset rising fuel costs. The National Transport Commission, which oversees public bus services in Sri Lanka, confirmed it is working to revise fares, with calculations ongoing.

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Earlier fuel price hikes had not been fully reflected in bus fare adjustments, exacerbating operational challenges for private operators. Analysts warn that continued fuel price volatility could further impact public transport, commuter costs, and road transport logistics across Sri Lanka.

IANS