Sri Lanka's fuel import bill exceeds USD 4.4 billion in first nine months of 2026

EconomyNext and Newswire report that Sri Lanka spent about $4.49 billion on fuel imports in the first nine months of 2026. EconomyNext puts the total at $4,487.2 million, compared with $2,961.3 million in the same period of 2025; Newswire reports a 51.5% year-on-year increase. Ada Derana reports that the nine-month bill exceeded $4.4 billion.

EconomyNext reports that the Central Bank’s September external trade data showed monthly fuel-import spending declined for the fifth consecutive month. The outlet says analysts nevertheless expect the total for 2026 could reach about $5.5 billion if the Middle East conflict continues through the end of the year, citing elevated global oil prices.

EconomyNext reports that Sri Lanka’s highest previous annual fuel-import bill was $5.04 billion in 2012, during a period of severe trade deficits that preceded an IMF programme. It says the country produces no fuel and relies mainly on imports. The report also links persistent demand to fossil-fuel dependence in transport and industry, and to the use of imported heavy fuel and diesel for electricity generation, particularly during dry seasons.

EconomyNext reports that past governments subsidised fuel when global prices were high, contributing to debt at the state-owned Ceylon Petroleum Corporation. It says the current IMF programme requires market-reflective fuel pricing. EconomyNext also reports that the higher import bill has pressured the rupee, which has fallen about 6.8% so far this year.

Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.