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Diesel lifeline from India to Sri Lanka when the country declared a state of emergency

Sri Lanka’s president declared a state of emergency on Friday after the island nation saw massive protests over soaring fuel prices, shortages of essentials and widespread power outages. .

Via : Automatic table HT
Update on:
April 2, 2022, 11:59 am

Sri Lankans line up to buy diesel fuel at a fuel station in Colombo, Sri Lanka.  (Picture file) (AP)
Sri Lankans line up to buy diesel fuel at a fuel station in Colombo, Sri Lanka. (File image) (AP)

Sri Lanka can temporarily breathe a sigh of relief when a ship carrying 40,000 tons of diesel from India has arrived in the island nation. Sri Lanka fell into a state of emergency on Friday following massive protests across the country over petrol and diesel price hikes amid fuel shortages leading to prolonged power outages alongside shortages of commodities. essentials such as food and medicine.

Besides 40,000 tons of diesel, IOC Lanka has also provided 6000 tons of fuel to the Ceylon Electricity Council for electricity production. Lank IOC is a subsidiary of Indian Petroleum Corporation (IOC). Fuel has been supplied to the Kerawalapitiya Power Plant in Sri Lanka which has been shut down recently due to lack of fuel.

Sri Lanka ran out of diesel this week, which has crippled the island nation’s transportation industry. Sri Lanka uses diesel as the main fuel for public transport such as buses and trucks. The Sri Lankan government lacks foreign currency to be used to pay for fuel imports. Sri Lanka imports all of its petroleum needs while India imports almost 85% of its needs.

Gasoline prices in the country reach around 250 Sri Lankan rupees or approx 66.79 per liter while diesel price per liter is around 200 Sri Lankan rupees or approx 53,43. Long lines were seen outside fuel stations across the island nation. There are places where the queue is a kilometer long. In Colombo, about half of the petrol pumps had to be shut down due to lack of fuel.

Diesel shortages have led to an unprecedented electricity crisis in Sri Lanka. The island nation has seen its worst power outages in the past few days. According to some, this is the worst crisis in 25 years.

In India too, fuel prices have skyrocketed since oil companies started adjusting their rates daily on March 22. In the 10th increase in 12 days, petrol and diesel prices has increased more 7 per liter.

Date of first publication: April 2, 2022, 11:59 AM IST

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