Opposition MP S. M. Marikkar has claimed the price of a litre of diesel could rise by Rs. 150 in the coming period, warning that the public faces a further increase in the cost of living.
Addressing a public gathering, the SJB lawmaker said the government had come to power promising relief — lower electricity tariffs, reduced taxes and lower prices for essential goods. Instead, electricity tariffs increased significantly under the current administration, while further increases in water tariffs and fuel prices were expected, he said.
Marikkar claimed depreciation of the rupee and rising fuel costs would lead to increases in the prices of imported goods, medicine, food items and agricultural inputs in the coming weeks.
He further alleged the country’s debt burden had risen sharply due to the weakening rupee, saying the dollar rate had moved from Rs. 292 to Rs. 336 since President Anura Kumara Dissanayake assumed office.
The opposition MP also criticised the government’s handling of the energy sector, alleging losses linked to coal imports and increased spending on private power purchases.
Marikkar said the government was relying heavily on IMF support and warned that further economic pressure would ultimately be passed on to the public through higher prices and taxes.
The warning comes against a contested backdrop on diesel economics. The Advocata Institute estimated last week that diesel is being sold at Rs. 392 against a minimum recovery cost of Rs. 409–410 a litre, while President Dissanayake himself disclosed a Rs. 720 per litre cost framing on May 13. The rupee briefly recovered to 329 on the spot market last Friday after touching its weakest level since December 2023 on May 14.
