Sri Lanka Fuel Price Hike Defended by CPC Chief, but Data Raises Questions
COLOMBO, March 10, 2026 The chairman of Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC), D.A. Rajakaruna, appeared before the media on March 10 to defend a sharp retail fuel price increase that took effect the same day. The explanation he offered centred on two claims: that global oil prices had risen “nearly 100 percent between the 1st and the 27th” of February into early March, and that a domestic panic-buying surge had drained reserves far sooner than anticipated. Both claims conta
Jaffna Monitor Economic Desk