LAUGFS Gas announces further price reductions in domestic LPG

Saturday, 4 May 2024 00:42 - - {{hitsCtrl.values.hits}}

LAUGFS Gas PLC yesterday announced another significant price reduction across all domestic LPG products with immediate effect.

The price of flagship 12.5kg LPG cylinder will be reduced by an additional Rs. 275, with proportional price reductions applied to other pack sizes, including the 5kg and 37.5kg cylinders. Accordingly, the new MRP of 12.5kg cylinder will be Rs. 3,840 within the Colombo district.

This latest price reduction follows a notable decrease in April, where LAUGFS Gas reduced the cost of a 12.5kg domestic LPG cylinder by Rs. 650.

With this massive price reduction, the Company said LAUGFS Gas has become the most affordable LPG cylinder of the country. With this revised price LAUGFS Gas branded LP Gas cylinders are now become the most affordable, safest value for money LPG solution for all domestic, commercial, and industrial LPG customers.

Since entering the market in 2000 and breaking the long-standing monopoly held by a multinational company, LAUGFS Gas has been at the forefront of the LPG industry in Sri Lanka and the broader Indian Ocean region. Over the past 25 years, we have developed a robust infrastructure, epitomised by our state-of-the-art terminal in Hambantota, which boasts a capacity of 30,000 metric tons and handles over a million metric tons of LPG annually. This facility, combined with our proprietary vessel, has significantly enhanced our sourcing and trading capabilities, allowing us to efficiently serve both local and regional markets.

“The recent macroeconomic improvements spearheaded by the administration of President Ranil Wickramasinghe have facilitated a reduction in bank interest rates, lower inflation levels, appreciation of the rupee, and reduced electricity and fuel costs. These positive changes have enabled us to pass on the benefits of reduced world market LPG prices directly to our consumers,” LAUGFS said.

“Our ongoing commitment to affordability, coupled with unparalleled logistical and trading capabilities, ensures that we continue to provide exceptional value to our customers, reinforcing our position as a leader in the energy sector. We are confident that these price reductions will further enhance the economic well-being of our customers and demonstrate our ongoing commitment to providing affordable energy solutions in Sri Lanka,” LAUGFS added.