FINANCIAL CHRONICLE – In April, Sri Lanka’s oil import expenses skyrocketed by 149.9 percent, reaching US$ 886 million, largely attributed to increased fuel prices stemming from heightened tensions in the Middle East, according to data released by the Central Bank.
The Central Bank indicated that this rise in costs was primarily influenced by escalating global fuel prices and a rise in the volume of imports due to the ongoing conflict in the region.
Notably, the fuel import expenses for April represented 36 percent of the nation’s total import expenditures, which amounted to US$ 2,457 million for the month, as per the available data.
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Following the Middle Eastern conflict, the fuel bill for March and April collectively reached US$ 1,516.3 million, marking an increase of 112 percent compared to the same months in the previous year.
Furthermore, statistics reveal that Sri Lanka incurred a total of US$ 2,167.7 million in fuel costs during the January to April period of this year, in contrast to US$ 1,411.4 million for the equivalent timeframe in 2025.
In the initial four months of this year, the fuel expenditure constituted 53.6 percent of the total oil spending recorded for the entirety of last year, as indicated by the data. (Colombo/May 29/2026)
