Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.14%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.60% / 11.70%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

How quickly Sri Lanka can adjust the domestic fuel prices inline with volatile global crude oil prices

EnergyMar 11, 2020
How quickly Sri Lanka can adjust the domestic fuel prices inline with volatile global crude oil prices
Sri Lanka imports crude oil as well as refined oils from different countries. 30% of the country’s total fuel requirement was refined domestically. after Iran hit US sanctions of exporting crude oil to other countries, Sri Lanka imports a major portion of crude oil from Murban crude from Abu Dhabi National Oil in the United Arab Emirates. But Murban crude is costly as it is difficult to buy on a government-to-government basis since Sri Lanka’s volumes are small. Sri Lanka imports refined fuel oils from Singapore and various other countries.

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