CHENNAI: Fuel prices in Sri Lanka have risen sharply following the surge in crude oil prices triggered by escalating conflict in West Asia.

According to a Maalaimalar report, the rise in crude oil prices has led to shortages of petrol, diesel and other fuels in several countries, prompting governments to increase retail prices.

According to the latest revision, petrol prices in Sri Lanka have increased by LKR 25 per litre, taking the price to LKR 366 per litre. Diesel prices have gone up by LKR 22 per litre to LKR 353.

The price of kerosene has also been raised by LKR 13 per litre and now stands at LKR 195.

Authorities said the revised fuel prices came into effect from midnight to prevent panic buying and hoarding among the public.