CAA approves Rs. 363 price hike for LAUGFS Gas

Friday, 13 August 2021 03:42 - - {{hitsCtrl.values.hits}}

Govt. says no decision yet to increase Litro prices
LAUGFS Chairman Wegapitiya says increase insufficient but will release stocks in a week

In an effort to resolve the LP gas shortage, the Consumer Affairs Authority (CAA) yesterday granted approval to LAUGFS Gas PLC to increase the price of its 12.5 kg cylinder by Rs. 363 and five kg cylinder by Rs. 145.

However, the Government said the State-run Litro gas prices would not be increased.

Last month, LAUGFS Gas temporarily halted the importation and distribution of LP gas after authorities denied a price hike despite soaring costs.

According to the upward price revision of LAUGFS Gas prices, a 12.5 kg domestic gas cylinder will be Rs. 1,856 and the five kg mini cylinder will be Rs. 743.

Consumer Protection State Minister Lasantha Alagiyawanna said there was no decision to increase the current prices of Litro Gas.

“Although it is a loss for the State-run Litro Gas Ltd., we will continue to provide LP gas at the current price,” Alagiyawanna added.

He called on the public not to resort to panic buying, whilst assuring that there is no shortage of LP gas in the country.

LAUGFS Group Chairman W.K.H. Wegapitiya said the price hike was insufficient compared to the current expenses.

“Compared to the current costs involved, the price hike is inadequate. But we will bear the loss, considering the cost-of-living burden on the general public,” he said.

Wegapitiya said LAUGFS domestic cylinders will be released to the market within a week, noting that steps have been taken already to import LPG.

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