### Fuel Tax Cuts Urged Amid Global Supply Risks 📈

Former Ceylon Petroleum Corporation (CPC) Chairman Mohamed Uvais has called on the Government to reduce taxes on fuel to stabilize domestic prices against rising global market volatility. • Key Market Risks: Potential disruptions in the Strait of Hormuz and shipping routes between Yemen and Africa could impact up to 35% of global oil transport, severely affecting import-dependent nations. • Current Impact: Domestic fuel prices have already seen a flat increase of Rs. 25 across all categories. Further hikes are anticipated if international crude prices continue their upward trajectory. • Strategic Recommendations: • Implement fuel tax reductions to cushion the impact on consumers. • Strengthen supply chain management and coordination with international suppliers. • Address Sri Lanka's high exposure to global supply shocks as a 100% petroleum importer.