Tue, 29 Nov 2022 Today's Paper

Govt. shoots down request to hike LP gas prices

19 October 2018 10:01 am - 0     - {{hitsCtrl.values.hits}}

A A A

The Industry and Commerce Ministry yesterday said it rejected a request to increase the prices of LP gas by the state-owned Litro Gas Lanka Limited, Sri Lanka’s largest cooking gas importer, cylinder distributor and supplier.


“Sri Lanka will not allow any sudden hike in domestic LPG gas prices right away – even if the global crude rates continue to gallop,” a ministry statement said. 
The Litro representatives at a recently held meeting were making a strong call on Industry and Commerce Minister Rishad Bathiudeen and the Consumer Affairs Authority (CAA) to upwardly revise the ‘transport cost component’ within the LPG pricing formula already agreed by with the CAA.


The Litro representatives said that the diesel costs have continuously escalated since 2007, making their LPG transport costs too to escalate, thereby eroding their margins.


However, the CAA officials had reiterated that the Sri Lankan domestic LPG prices in the market are now determined by a pricing formula agreed between the two LPG players (Litro and Laugfs) and the CAA and sudden ad hoc changes are adverse to the consumers and households that are heavily dependent on 
the cylinders.


“The crude price hike is hurting our economy in many ways and the LPG industry is no different. At present, global crude oil prices are at a four-year high and our consumers are facing the impact directly. 


Very recently, in the CAA’s September 27 determination, we already allowed the district-to-district LPG prices with adjustments for transport, which is the pricing framework now in effect. Revising these already revised LPG market prices again at this moment is very damaging to our consumers,” Bathiudeen said.


Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

Downfall and death of LTTE’s Mahathaya

The Liberation Tigers of Tamil Eelam (LTTE) ceased to exist as a functioning

Rishi Sunak; why SL did not have a Tamil or Muslim as President?

Britain now has a British Asian, Hindu Prime Minister, though Rishi Sunak is

How and why MGR launched ADMK 50 years ago

17 October 1972 was a Tuesday. Fifty years ago on that auspicious day, a new

Amitabh Bachchan: Evergreen Emperor of Hindi cinema turns 80

Well-known Hindi film actor Amitabh Bachchan celebrated his eightieth birthda