Sri Lanka, April 9 -- The Ceylon Petroleum Corporation (CPC) sources said that Sri Lanka spends between US$ 4.5 billion and US$ 5 billion annually to import its fuel needs and that the amount could double or triple if the war in the Middle East continues.Beaches & Islands

If such a large amount of foreign reserves has to be spent on fuel imports, the fuel prices could rise further, Dr. Mayura Netthikumarage, Managing Director of the CPC and the Petroleum Wholesale Terminals said.

Discover more Leadership training courses Daily News Subscription Local news subscriptions The CPC warns that Sri Lanka's annual fuel import costs could increase dramatically in the future. The corporation points out that if the current war situation in the Mid...