SRI LANKA RAISES WEEKLY FUEL QUOTAS, ANNOUNCES FURTHER PRICE HIKE

COLOMBO, March 22 (Bernama-Xinhua) -- Sri Lanka has increased the weekly fuel quotas allocated under the QR code-based National Fuel Pass system from midnight on Saturday, Sri Lanka's state-owned Ceylon Petroleum Corporation said, reported Xinhua.

Under the revised scheme, cars will receive 25 litres, up by 10 litres, while three-wheelers will receive 20 litres, an increase of 5 litres.

Quotas for motorcycles and quadricycles increased by 3 litres each to 8 litres per week, up by 3 litres, according to the corporation. Buses, vans and land vehicles now receive 40, 10 and 15 more litres of fuel every week, respectively.

The corporation added that fuel quotas for lorries and special-purpose vehicles will remain unchanged.

Sri Lanka began distributing fuel through a mandatory QR code system for vehicles on March 15, as authorities moved to manage reserves amid supply disruptions linked to the ongoing military situation in West Asia.

Meanwhile, Ceylon Petroleum Corporation announced a revision of fuel prices effective from midnight on Saturday. All fuel products, including auto diesel, petrol and kerosene, saw price hikes ranging from 60 rupees (US$0.19) to 90 rupees per litre.

Lanka IOC, another major petroleum company in Sri Lanka, said it would align its prices with the revised rates set by the corporation. This marks the third price hike of fuel in Sri Lanka in less than a month's time.

Previously, the country's petroleum companies adjusted fuel prices on Feb 28 and March 9. The price of auto diesel, for instance, has now reached 382 rupees per litre, compared to the pre-price-hike 281 rupees per litre.

Due to the sharp increase in fuel prices, around 90 per cent of privately operated buses were expected to be withdrawn from service on Sunday, according to the Lanka Private Bus Owners' Association (LPBOA).

LPBOA President Gemunu Wijeratne said bus owners had decided not to operate services after fuel prices were raised on March 21, describing the increase as the highest percentage hike recorded. He noted that diesel prices had risen by 31 per cent.

He added that bus services are expected to resume once fares are revised, as operators have indicated that current rates are not sufficient to cover costs under the new fuel pricing.

The LPBOA said that a minimum fare increase of 15 per cent is expected. The National Transport Commission, Sri Lanka's public bus service provider, also said it would implement measures to revise bus fares on March 22, with calculations currently underway. Bus operators have previously pointed out that several earlier fuel price increases were not followed by fare adjustments. 

-- BERNAMA-XINHUA