Central Bank Governor Ajith Nivard Cabraal has written to Finance Minister Basil Rajapaksa urging him to increase fuel prices soon.

In a letter dated December 10, he said that in the face of the economic crisis facing Sri Lanka, if dollars were used to import fuel, the country would face a major crisis without foreign exchange.

Accordingly, petrol should be increased by Rs. 35, diesel by Rs. 24 and kerosene by Rs. 11 immediately and steps should be taken to control fuel demand, he said.

However, the Ministry of Finance has not yet responded to this letter. Meanwhile, the issuance of letters of credit has been halted due to the non-issuance of dollars to order sufficient fuel for future fuel needs.