The price of a 12.5 kilo Liquefied Petroleum Gas (LPG) cylinder will be increased by Rs. 150 from midnight tonight, the Trade Ministry announced a short while ago. The decision to increase the price of both Litro and Laugfs gas cylinders was taken owing to the increase in cost of buying gas, according to LP Gas companies.
“We’ve been asking for this increase for the past four months,” said Laugfs Chairman W. K. H. Wegapitiya.
“We have a pricing formula in place and when the cost of buying gas for us goes up the cost of selling it has to increase accordingly”, he added.
Sri Lanka’s LP Gas market is split between the state run Litro Gas Lanka and privately-owned Laugfs Gas PLC. Both companies submitted fresh applications for a price revision a few months ago to be reviewed by the Consumer Affairs Price Committee.