Sri Lanka, March 20 -- 1. Introduction: When Oil Moves, Economies Shift
In the modern global economy, oil is more than a commodity; it is a macroeconomic force that shapes inflation, trade balances, fiscal stability, and the pace of global growth. For Sri Lanka, the stakes are even higher. As a country that depends heavily on imported petroleum for transport, electricity generation, and industrial activity, fluctuations in global oil markets have repeatedly triggered economic and social disruptions. Periods of supply shortages have affected daily life, strained public services, and even contributed to political instability. According to the Central Bank of Sri Lanka, the nation's annual petroleum import bill averages between USD 4.0 and 4....