Sri Lanka’s fuel import bill rises 51.5% to US$4.49 billion

Sri Lanka spent US$4.49 billion on fuel imports during the first nine months of 2026, an increase of 51.5% compared with the corresponding period last year.

The country spent US$2.96 billion on fuel imports between January and September 2025, meaning the import bill rose by US$1.53 billion during the same period this year.

However, fuel import expenditure declined slightly in September. Sri Lanka spent US$415.1 million on fuel imports during the month, down 5.8% from US$440.7 million in September 2025.

Meanwhile, the Ceylon Petroleum Corporation’s (CPC) net sales revenue rose sharply during the first half of 2026 amid higher domestic fuel prices following the escalation of conflict in the Middle East.

The CPC recorded net sales revenue of Rs. 576.6 billion during the first six months of 2026, an increase of 40.4% from Rs. 410.7 billion during the corresponding period in 2025.

The increase came amid disruptions to global energy supply chains, including restrictions affecting petroleum shipments through the Strait of Hormuz.

The disruptions contributed to sharp increases in global crude oil and petroleum product prices, as well as higher freight and insurance costs.