Sri Lanka's fuel import bill in first 9 months of 2026 jumps 51.5 pc

COLOMBO: Sri Lanka's fuel import expenditure from January to September 2026 increased by 51.5% compared with the same period last year, according to data released by the Central Bank of Sri Lanka.

The bank's latest External Sector Performance report, dated October 30, showed that the country spent $4.49 billion on fuel imports during the first nine months of 2026, compared with $2.96 billion during the same period in 2025.

Fuel import spending, however, declined slightly in September. Sri Lanka spent $415.1 million on fuel imports during the month, down 5.8% from $440.7 million in September 2025. September 2026 also marked the country's fifth consecutive month of declining fuel import expenditure.

Despite the downward trend, the overall fuel import bill remained significantly higher than during the same period last year, the bank said.

The increase came amid higher domestic fuel prices following an escalation of conflict in the Middle East.

Disruptions to global energy supply chains, including restrictions affecting petroleum shipments through the Strait of Hormuz, also pushed up crude oil and petroleum product prices, as well as freight and insurance costs.

By RSS/Xinhua