Colombo: Amid the worst economic crisis in Sri Lanka which is leading to acute shortage of essential items including fuel, the island country is witnessing spike in bicycle sales.
Hundreds of Sri Lankans continue to queue up at petrol pumps across the country every day amid fuel shortage; a large number of people are switching from cars and motorcycles to bicycles for their daily commute.
The current price of petrol is Sri Lankan rupee 470 per liter and diesel is being sold at Sri Lankan rupee 460 per liter. The Sri Lankan rupee is 0.22 against the Indian rupee.
Speaking to the news agency ANI, locals claimed that bicycle prices had jumped by up to 30%.
“I am using bicycles for going office and my family and many friends are doing the same,” said a resident who visited the shop to buy cycle parts.
In Sri Lanka, long queues at fuel stations have become the new normal, and prices change depending on supply. Locals say they stand in line for petrol for 4 to 5 days.
“I came here on Thursday, we wait in queue for 4-5 days. But they have set a limit of Rs 1500 for bikes – just 3 liters isn’t enough, we are in courier service,” said a resident said.
Kanchana Wijesekera, the minister of power and energy in Sri Lanka, stated earlier this month that the country must pay USD 587 million to several foreign oil companies for planned fuel imports until mid-August.
Notably, three ships containing petrol and diesel are expected to reach the country this month and another in August the Chairman of Lanka IOC, the subsidiary of Indian Oil Corporation, said on Saturday as it will give relief to the people facing fuel shortages.
One ship is expected to arrive between July 13 and 15 and another ship is scheduled to reach between July 29 and 31.