March 08, Colombo (LNW): Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe has warned that rising global prices for essential commodities are largely outside Sri Lanka’s control, noting that disruptions in the supply of fuel and gas are likely to push costs even higher in the coming months.
Addressing a briefing, the Minister explained that fluctuations in international markets are already being felt across many countries, and Sri Lanka will not be immune to those developments. According to him, increases in global energy prices tend to trigger wider price adjustments that affect multiple sectors of the economy.
Samarasinghe pointed out that the current tensions and instability in the Middle East are having a widespread impact on global trade and logistics. As a region closely linked to the world’s major energy supplies and shipping corridors, developments there can significantly influence fuel availability and transportation costs worldwide.
He noted that countries heavily dependent on maritime trade routes, including Sri Lanka, are particularly vulnerable to such disruptions. Any reduction in the supply of fuel or liquefied gas, he said, would naturally lead to price escalation in international markets.
The Minister added that global price movements have already begun to reflect these pressures, and nations that rely on imported energy and goods will inevitably feel the consequences. While governments can attempt to manage the local impact, he stressed that the underlying drivers of such price increases originate in global supply conditions that no single country can control.
Samarasinghe also indicated that the Government is closely monitoring the situation and assessing its potential effects on the domestic market, especially in sectors linked to energy, food supply and transportation.