If prices go up further, a fuel subsidy will be given.

Minister of Health and Mass Media, and Cabinet Spokesperson, Dr. Nalinda Jayatissa, stated that discussions are currently underway with the Ministry of Finance regarding the provision of a short-term fuel subsidy to provide relief to the public if fuel prices further increase in the future. The Minister confirmed this while participating in the media briefing to announce Cabinet decisions held yesterday (10) at the Government Information Department, and pointed out that the government was compelled to increase fuel prices in the country due to the prevailing global crisis.

The government side points out that in a context where many countries in the world have already increased oil prices, if this step had not been taken in Sri Lanka, private companies importing fuel might have limited or completely stopped their import activities. The Cabinet Spokesperson further explained that if that had happened, there would have been a significant risk of severe disruptions to the continuous oil supply.

The Minister also answered a question raised by journalists as to why prices were increased despite earlier statements that the government had sufficient fuel reserves for a month. In the past few days, domestic fuel consumption has increased significantly, and accordingly, an additional 13,000 metric tons of petrol and 23,000 metric tons of diesel have had to be released. Due to this, the existing oil reserves have been completely depleted, and new oil imports have had to be made under the increased prices prevailing in the world market, he stated.

The government states that although fuel prices should have actually increased by a higher margin, the prices were revised at a minimum level as it would be unaffordable for the domestic economy. Global crude oil prices have increased by approximately 37.76%, and refined petroleum prices have also increased proportionally. Countries with vast oil reserves, as well as countries like Saudi Arabia, have already raised prices, and some countries have increased fuel prices by over ninety percent by limiting energy usage. Furthermore, the objective of properly managing the country's dollar reserves has also influenced this price increase. The government expects the public to limit their fuel consumption in the future.

The Minister told journalists that it is not possible to definitively state whether there will be another fuel price increase at the end of this month due to the prevailing war conditions, and that everyone should be prepared to face any situation as the crisis may either subside or prolong. However, he emphasized that despite this challenging situation, the government has not made any decision to cut public sector salaries or allowances, and the relief provided to the public in the health and education sectors will not be reduced at all. The government's stance is to continue the country's progress without hindering any sector of the economy.