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COLOMBO, Oct. 4 (Xinhua) -- Sri Lanka's expenditure on fuel imports rose sharply during the first eight months of 2026, reaching 4.07 billion U.S. dollars, according to a report by the Central Bank of Sri Lanka dated Sept. 30, local media reported Sunday. The figure was 1.55 billion dollars higher than the 2.52 billion dollars spent during the corresponding period of 2025, representing a year-on-year increase of 61.6 percent, according to local news outlet Ada Derana. In August alone, fuel imports cost Sri Lanka 450.6 million dollars, up 76.5 percent from 255.2 million dollars in August 2025. The increase amounted to 195.4 million dollars compared with the same month last year. Of the August fuel import bill, 321.9 million dollars were spent on refined petroleum, compared with 202.9 ...

BRUSSELS, Oct. 3 (Xinhua) -- Group of Seven (G7) leaders agreed Friday to release 100 million barrels of diesel and crude oil from emergency reserves in an action coordinated through the International Energy Agency (IEA), as surging fuel prices, disrupted refined-product supplies and threatened U.S. export restrictions added pressure on global energy markets. Under the agreement, the 100 million barrels will be released over four months, starting immediately, with a substantial amount of diesel to be frontloaded within the first 20 days by G7 members and partners. The G7 did not specify how much of the total would be diesel or crude oil, or how many individual countries would contribute. It said further diesel releases could be considered if necessary. IEA Executive Director Fatih ...

Tag: fuel

Sri Lanka’s fuel import bill jumps over 60 pct through August-Xinhua

Explainer: Why G7 agrees to release fuel reserves, how helpful will it be?-Xinhua