Litro and LAUGFS hike LP gas prices

Tuesday, 5 September 2023 00:24 - - {{hitsCtrl.values.hits}}

Litro Gas Chairman Muditha Peiris

Litro Chairman Muditha Peiris says price hike was announced after 4 months

State-run Litro Gas Lanka Ltd., and LAUGFS Gas PLC yesterday announced an upward price revision for domestic Liquefied Petroleum (LP) gas cylinders.

Litro Gas Chairman Muditha Peiris said the decision comes in response to rising global gas prices.

“This is the first upward price revision announced by the company after four months,” he told journalists yesterday.

As per the new pricing structure of Litro, the 12.5 kg LP gas cylinder will see an increase of Rs. 145 to Rs. 3,127 whilst the 5 kg cylinder was raised by Rs. 58 to Rs. 1,256 and the 2.3 kg cylinder up by Rs. 26 to Rs. 587.

Peiris defended the decision by pointing out that global gas prices have surged by $ 103 per ton.

“Considering the price adjustments made last month and this month, the LP gas prices in the domestic market could have increased by around Rs. 960. However, we have chosen not to impose such a significant increase due to our effective stock management policies and financial stability,” Peiris explained.

He reassured consumers noting that Litro Gas Lanka has ample stock reserves, ensuring a steady gas supply until at least June 2024. This move aims to mitigate potential concerns among consumers and maintain stability in the domestic LP gas market.

Separately, LAUGFS Gas PLC also announced that the company has decided to revise the prices of its domestic gas cylinders.

Accordingly, the price of a 12.5 kg cylinder of LAUGFS has hiked by Rs. 145 to Rs. 3,835, whilst the 5 kg has increased by Rs. 59 to Rs. 1,535.

The revised prices will be in effect from last night.

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