Sri Lanka, April 25 -- The Central Bank of Sri Lanka has projected a significant increase in the country's fuel import expenditure in 2026, citing geopolitical tensions in the Middle East and continued volatility in global oil markets as key contributing factors.

According to the Central Bank, fuel imports account for a substantial portion of Sri Lanka's total import bill, averaging nearly 20% over the past decade.

Despite an increase in the volume of crude oil and refined petroleum imports in 2025, total expenditure declined from USD 4.4 billion in 2024 to USD 4 billion in 2025. The reduction was primarily driven by lower international prices of crude oil, refined petroleum products, and coal.

The average import price of crude oil als...