Sri Lanka raises fuel prices by 7.5 percent (AFP)
COLOMBO (AFP) – Sri Lanka upraised render prices by up to 7.5 proportionality in a effort to offset higher crude lubricator goods costs, the polity said.
Gasoline prices on Saturday accumulated by 10 rupees to 143 rupees (1.3 dollars) a litre patch diesel, which is widely utilised by open transport, was upraised 3.5 proportionality to 93 rupees.
A gain lubricator importer, Sri Lanka sources such of its petroleum products from Iran, Arabian peninsula and Malaya and the crescendo planetary prices unnatural the latest retail price hike, an official of the Petroleum Corporation said.
The uprise in render prices is cod to impact on inflation which climbed to 8.6 proportionality in March, the maximal in more than two years, cod to shortages of matter following large high earlier in the year.
The Central Bank of Sri Lanka has forecast the island nation's inflation rate will be between sextet and heptad proportionality by the modify of 2011.
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