LPG gas price hike in the offing?

views 567 2018-04-19 10:13:00 news

Litro Gas, Sri Lanka’s largest LP Gas supplier is in discussion with the Consumer Affairs Authority over a proposed price revision based on the price application.

“We are supposed to do price applications every two months, based on several variable components which needs to be considered, including invariables such as world price, exchange rate to name a few,” Litro Gas Sales and Marketing Director Chaminda Edriwickrema said.

“On the firstst of every month, the world market price is decided by authorities like Saudi Aramco and is changed. In our case, we have a mechanism agreed upon with the CAA and the Treasury where we can do price application every two months, we consider the variable factors and the current scenario,” he said.

He added that the company was in discussion with the CAA on the price revision based on the price applications which they had submitted for February and March. Earlier this year, the CAA allowed the country’s LP gas suppliers, Litro and Laugfs, to raise the price of a 12.5 kg gas cylinder.

Accordingly the price of a 12.5 kg LP gas cylinder was increased by Rs. 110 bringing the new price to Rs.1,431. The decision to increase the prices was approved by the Cabinet.
(under the courtesy of dailynews.lk news web)

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