Sri Lanka's Fuel Crisis: Bus Fleets Threaten Halt

Non-state bus operators in Sri Lanka have sounded alarms over a potential nationwide fleet halt, citing a major rise in fuel prices that took effect at midnight. The price hike is the second such increase in just a week, threatening to take 90% of buses off the roads unless a fare revision is approved.

The escalation comes amid global political tensions, particularly the US-Israel strikes on Iran, leading to disruptions in the Gulf region that affect crucial energy supplies. The price of diesel has surged by Sri Lankan rupees 79, reaching 382 LKR per litre, prompting calls for a minimum 15% fare hike from bus operators.

The opposition claims government taxation on fuel adds significant costs, arguing for tax relief to ease public burden. Meanwhile, authorities urge citizens to conserve fuel and power amidst unstable global oil markets. Both local and multinational fuel retailers have adjusted prices, compounding the effects of ongoing conflicts on Sri Lanka's economy.