Fuel prices will increase in the future?

President Ranil Wickramasinghe says that due to the global impact, fuel prices may increase in the coming months of December, January and February.

The President mentioned this in his special statement in Parliament.

 The President further commented,

‘We have to suffer from global trends that we cannot control while moving forward through this crisis. Fuel price is one such thing. Due to the impact of the war in Ukraine, it has been predicted that the world’s fuel production will drop in the coming months of December, January and February. Yesterday I think one of the OPEC organizations announced that they are going to reduce their production. That is why the developed countries of Europe buy this fuel for the winter season. One is that there is a shortage in the fuel market. Most of it is bought by European countries. Then the fuel prices for countries like Sri Lanka will increase. Especially because of this, not only Sri Lanka but many countries in South Asia have to face it. We need to plan now to keep fuel price hikes affordable for consumers.”