SriLanka, Sept. 21 -- The government is examining legal options to allow private fuel distributors to set their own prices within a specified upper and lower range, Energy Minister Anura Karunathilaka said.

He said the move is being considered as several private fuel distribution companies have raised concerns over heavy losses under the existing pricing structure, leading to restrictions on diesel supplies.

Three private fuel companies in Sri Lanka-Lanka IOC (LIOC), Sinopec, and RM Parks-have restricted diesel distribution by about 50% due to severe financial losses caused by surging global oil costs and the removal of the government diesel subsidy. The operators are lobbying the Ministry of Power and Energy for an immediate price revi...