Drastic drop in domestic gas prices

Wednesday, 5 April 2023 00:00 - - {{hitsCtrl.values.hits}}

Litro and Laugfs announce price reduction of over Rs. 1,000

As announced previously, the price of domestic gas cylinders has been reduced from last night, based on reducing gas prices in the world market and the price-reflective formula implemented.

Litro Gas Lanka Chairman Muditha Peiris announced yesterday that its price of a 12.5 kg cylinder has been reduced by Rs. 1,005, while the price of a 5 kg cylinder has been reduced by Rs. 402, and the price of a 2.3 gas cylinder has been slashed by Rs. 183.

This was the first time LP gas prices were revised downward by a huge margin by the State-run Litro Gas, in the recent history. Although prices have not come to the pre-pandemic levels of below Rs. 2,000, its price has definitely come down drastically compared to 2021 and 2022.

Accordingly, the Litro 12.5 kg cylinder is now Rs. 3,738, while the 5 kg cylinder is Rs. 1,502 and the 2.3 kg cylinder is Rs. 700.

Previously, a 12.5 kg canister was sold at Rs. 4,743, whilst a 5 kg cylinder at Rs. 1,904 and 2.3 kg at Rs. 883.

The price reduction came in after 5 February, giving people a sigh of relief having been faced with much hardship since the price of commodities shot up amidst an unprecedented shortage in fuel and gas prevailed due to the worst economic crisis.

The Litro Chairman said that the positive aspect of the price formula is that the benefits of reducing gas prices in the world market will be granted to the public.

Hours later, Laugfs Gas PLCalso has mulled reducing the prices of its domestic gas cylinders following the price revisions made by State-run Litro Gas Lanka.

Laugfs Gas said the price of its 12.5kg domestic gas cylinder has been reduced by Rs.1,290 with effect from last night and be sold at Rs. 3,990, whilstthe price of a 5kg canister has been reduced by Rs.516 to Rs.1,596.

Previously, a 12.5 kg Laugfs Gas canister was sold at Rs.5,280 whilst a 5 kg cylinder was at Rs. 2,112.

“Without holding any additional benefits, Laugfs Gas decided to pass down the benefit directly to the consumer by reducing the domestic LPG prices by a significant amount,” a statement issued by the company noted.

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