The fuel price had to be increased again due to the exchange crisis but efforts are being made to control the supply of fuel through the move, said the Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal.
Such a move the outflow of foreign exchange will be controlled to some extent, he noted.
The CBSL Governor also added that subsidies cannot be provided for fuel due to the exchange crisis and point out that despite allegations that fuel prices have been soared to an unbearable level, fuel is still being sold in Sri Lanka at a price lower than India.
Following the price hike, a litre of premium petrol is sold for Rs. 210 in Sri Lanka, but in India the figure is Rs. 264, he added.
MIAP