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Fuel prices in Sri Lanka have risen to an all-time high of 420 rupees per liter
Sri Lanka raised the price of gasoline by 24.3% and diesel by 38.4% on Tuesday, a record increase in fuel prices amidst the country’s worst economic crisis due to a lack of foreign exchange reserves.
With the second increase in fuel prices since April 19, the most commonly used Octane 92 petrol will now cost 420 rupees (USD 1.17) and diesel 400 rupees (USD 1.11) per litre, both at an all-time high.
Ceylon Petroleum Corporation, the state fuel entity, decided to raise the price of Octane 92 petrol by 24.3 percent, or 82 rupees, and diesel by 38.4 percent, or 111 rupees per litre (CPC).
“At 3 a.m. today, the fuel price will be revised. The Cabinet-approved fuel pricing formula was used to revise the prices,” Power and Energy Minister Kanchana Wijesekara said on Twitter.
“All costs associated with importing, unloading, distribution to stations, and taxes are included in the price revision.”
“In addition, the Cabinet approved the revision of transportation and other service charges.” “The formula will be used every two weeks or once a month,” he said.
The increase came as the public endured long lines at fuel stations affected by shortages.
The retail prices of fuel have also been raised by Lanka IOC, the Sri Lankan subsidiary of India’s oil major Indian Oil Corporation.
“We’ve raised our prices to match the CPC,” LIOC CEO Manoj Gupta told PTI.
Meanwhile, auto-rickshaw operators announced that the first kilometre would cost 90 rupees and the second would cost 80 rupees.
The government announced that heads of institutions would have discretion over which employees would be required to report physically as a cost-cutting measure. Allow the others to work from home.
Since 2002, Lanka IOC has been operating in Sri Lanka.
As the country grapples with a severe foreign exchange crisis, Sri Lanka has been considering various options to facilitate measures to prevent fuel pumps from running dry.
The island nation is experiencing unprecedented economic difficulties, the worst since its 1948 independence from Britain. Due to a lack of dollars to pay for imports, it is experiencing a shortage of almost all necessities.
Long lines for fuel, cooking gas, and other essentials have formed due to a crippling shortage of foreign reserves, while power outages and soaring food prices have added to the people’s misery.
The economic crisis has sparked a political crisis in Sri Lanka, with demands for President Gotabaya Rajapaksa’s resignation. The crisis has already forced President Mahinda Rajapaksa’s elder brother, Prime Minister Mahinda Rajapaksa, to resign on May 9.
Inflation approaching 40%, food, fuel, and medicine shortages, and rolling power outages have sparked nationwide protests and sent the currency plummeting, leaving the government short of foreign currency reserves to pay for imports.
According to reports, Jimmy Kimmel is thinking about leaving his late-night show to devote more time to his son Billy’s continuous struggle with congenital heart problems.
This week, a number of people with knowledge of the situation disclosed that Kimmel intends to leave Jimmy Kimmel Live! after his contract expires in 2025 in order to spend more time with his wife Molly McNearney, who co-head writes the show.
Kimmel’s choice, according to Radar Online, is a result of Billy’s health issues, especially in the wake of Billy’s most recent third open-heart surgery. But now he’s a “healthy kid.”
The Late Night presenter shared the news on Instagram in late May, saying, “We went into this experience with a lot of optimism and nearly as much fear and came out with a new valve inside a happy, healthy kid.”
Sources close to Radar Online claim that the Kimmels are getting ready to step back from the spotlight. According to an informant, Jimmy and his spouse prioritise their family over notoriety. They know what to do financially, so they’re prepared to step back from the spotlight and concentrate on what matters most.
“Life is too short to waste time on a job that brings you no happiness.”
Kimmel’s spokesperson denied the findings.
Even though Kimmel’s publicist denied any talks regarding his possible resignation and called the claim “silly,” especially in light of his son’s recent surgery.
“Though they’ll likely stay busy producing and developing shows behind the scenes, their main focus will be spending precious time with their family,” an insider was quoted by Perez Hilton.
Billy’s congenital heart issue was initially made public by Kimmel in 2017, not long after Billy was born, along with the difficulties his family was facing. Billy was born with a heart condition, according to an echocardiography, a type of cardiac sonography that was performed, Kimmel disclosed on his show.
“Tetralogy of Fallot associated with pulmonary atresia.” In essence, there is a hole in the wall separating his left and right sides of the heart, and the pulmonary valve was totally obstructed.
Three days after his birth, Billy had his first successful open-heart surgery. A few months later, he had another one. Billy had his third operation last month at Children’s Hospital Los Angeles. This was his most recent procedure.
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