Sri Lanka, March 9 -- Sri Lanka may soon face higher fuel prices due to the rapid increase in global crude oil prices, and such an adjustment should not be delayed until the festive season, according to economic analysts.

Speaking on the "Ada Derana Big Focus" program today (09), Professor Priyanga Dunusinghe of the Department of Economics at the University of Colombo stated that the government must take prompt steps to prepare for the likely increase in domestic fuel prices given the global trend.

He explained that global crude oil prices have risen sharply, noting that the price of Brent crude stood between US$ 92 and US$ 93 per barrel last Friday, but climbed to around US$ 115 per barrel when markets opened on Monday.

According to P...