Gas price hike tomorrow

(August 31, Colombo, Sri Lanka Guardian) The price of LP gas will be increased by at least Rs. 100 a cylinder. The new prices would be announced tomorrow, Consumer Affairs Authority Chairman Rumy Marzook said.

The two main LP gas suppliers – Shell and Laugfs, had appealed to the CAA to approve the price hike, following increases in world market prices.

Officials of both companies said the price hike would be effective soon and gave no further details.

Sri Lanka Guardian , however, learns the increase will be between Rs. 100 and Rs. 120 a cylinder. Price changes are requested every two months, according to a formula approved by the Supreme Court. The formula takes into account the oil prices of the previous two months.

A spokesperson for Laugfs said the current low prices of crude oil in the world market would be taken into account in setting the prices in November.
- Sri Lanka Guardian