Former UNP Deputy Leader and Parliamentarian Ravi Karunanayake has warned that Sri Lanka must urgently prepare for further increases in global oil prices amid the ongoing crisis in the Middle East.
Karunanayake said the country could face a severe economic impact if crude oil prices remain elevated or rise further, particularly if the price reaches US$100 per barrel.
He noted that higher global oil prices would directly affect domestic fuel costs and could also increase transportation expenses and the cost of electricity generation.
The MP stressed that Sri Lanka should not assume that the Middle East crisis will be resolved quickly, warning that the situation could continue for an extended period.
He called for measures to ensure uninterrupted fuel supplies and adequate stocks to prevent shortages and minimize the impact on the public and the economy.
Karunanayake said Sri Lanka must be prepared for sustained disruptions in global fuel markets, as any significant shortage could create serious difficulties for the country.
