21:38 - 27.07.2026

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July 27, Fineko/abc.az. Rising global crude prices are compounding economic pressure on Sri Lanka, an island nation fully reliant on fuel imports.

The head of the state-owned Ceylon Petroleum Corporation reported that since the beginning of the month, diesel prices have spiked by 45%, while gasoline prices have jumped by 30%.

The energy situation is further complicated by a drop in hydroelectric generation due to an El Niño-induced drought, which has forced power utilities to consume more thermal fuel for electricity generation. In response, government officials are considering fresh consumption reduction measures and have previously held talks with Russia to secure discounted energy supplies.