Sri Lanka has significantly increased the price of cooking gas, citing rising global energy costs linked to the ongoing conflict in the Middle East, in a move that is likely to add further pressure on household expenses.
The latest adjustment, announced on Monday, sees liquefied petroleum gas (LPG) prices rise by nearly a quarter in some segments of the market. The increase follows an earlier price revision last month, reflecting sustained volatility in international fuel markets.
A privately operated supplier, which serves a portion of the domestic LPG market, raised its retail price by 23 per cent, while the state-owned distributor, which dominates the sector, implemented a slightly lower increase of just over 19 per cent for standard household cylinders.
Officials attributed the latest hike to higher international LPG prices and increased shipping costs, both of which have been affected by disruptions to global energy supply chains.
Sri Lanka remains heavily dependent on imports for its energy needs, including petroleum products and coal used in electricity generation. Authorities have warned that a prolonged conflict in the Middle East could complicate the country’s ongoing recovery from its economic crisis in 2022.
Recent weeks have already seen increases in fuel and electricity tariffs, underscoring the broader impact of global market shifts on the domestic economy.
The disruption to key transit routes, particularly the Strait of Hormuz—through which a significant share of global oil and gas supplies normally passes—has contributed to tighter supply conditions and rising costs worldwide.
Analysts say the latest price adjustments highlight the vulnerability of import-dependent economies to geopolitical shocks, with energy affordability emerging as a growing concern for households and policymakers alike.
