Litro announces price drop in advance

Litro Gas Lanka Chairman Muditha Peiris yesterday confirmed that the price of its LP gas cylinder will be revised today; hinting that this could be with a huge downward adjustment that the company has extended in recent history.

“We anticipate a price drop of around Rs. 1,000 for a 12.5 kg LP gas cylinder, whilst passing on the benefit of the reduced international market price to the consumer,” he told journalists yesterday.

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

He claimed that several variables, including the decline in gas prices on the international market and the strengthening of the Sri Lankan rupee, were responsible for the substantial price fall.

Peiris said the new prices are based on the Government pricing formula and will be announced today (4).