Domestic fuel market

The first fuel shipment from China's Sinopec will arrive in Sri Lanka in August, according to State Minister of Power and Energy D.V. Chanaka. 

 

 

The government will set a Maximum Retail Price (MRP) for fuel at the pump using a standard price formula applicable to all fuel retailers. After discussing it with relevant parties, a decision on the QR code for fuel will be made. 

 

 

This move aims to promote competition among fuel companies and reduce fuel prices. In May, Sri Lanka signed an agreement with Sinopec and two other firms to operate fuel stations in the country following difficulties in purchasing fuel due to last year's foreign exchange crisis.