Sri Lanka Resists Economic Cuts Amid Global Oil Price Surge

Sri Lanka's government has announced that it will not impose any measures to curb economic activity in response to rising global oil prices. According to Cabinet Spokesman Dr. Nalinda Jayatissa, the country plans to maintain a continuous fuel supply and keep schools and universities open.

The decision comes as crude oil prices have jumped above $100 per barrel due to tensions in the Middle East. However, the price has since eased on hopes of an end to the conflict.

Dr. Jayatissa explained that the government had recently increased retail fuel prices to manage rising consumption and higher import costs after existing fuel stocks were depleted.