Suspends operations at its only fuel refinery after crude oil stocks run out
Sri Lankan police said on Sunday two men collapsed and died while waiting in separate queues to secure fuel amid sky-rocketing prices leading to record inflation. For weeks people have been queuing up at pumps, often for hours, and the country has been under rolling power cuts. On Sunday Sri Lanka suspended operations at its only fuel refinery after crude oil stocks ran out, said Ashoka Ranwala the president of the Petroleum General Employee’s Union. The energy ministry could not be immediately reached for a comment.
Use of kerosene oil has increased after low-income families began shifting away from cooking gas due to price increases. On Sunday Laugfs Gas, the country’s second largest supplier raised prices by 1,359 rupees ($4.94) for a 12.5 kg cylinder, the company said in a statement. Sri Lanka has been struggling to find dollars to pay for increasingly expensive fuel shipments since January, with its foreign currency reserves dipping to $2.31 billion in February.
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