Sri Lanka raise fuel prices after IMF loan instalment
People wade through a flooded street after heavy rainfall in Biyagama on the outskirts of Colombo on May 23, 2026. (Photo by Ishara S. KODIKARA / AFP)
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 stabilize the economy.
Petrol was raised to 434 rupees ($1.33), up from 410, while diesel increased to 407 rupees a litre from 392, the state-run Ceylon Petroleum Corporation said.
The price hike came days after the International Monetary Fund released a $695 million instalment of a $2.9 billion bailout loan, agreed in early 2023 to stabilise the cash-strapped South Asian nation.
