Gas prices likely to be increased soon

2 February 2012 01:20 am

Gas prices are likely to be increased soon with the two main gas companies requesting for a price increase in the wake of a sharp rise in world market prices of liquid petroleum gas.

A Trade and Consumer Affairs Ministry spokesman said a request for an increase was made some time back but a final decision was yet to be made.
However Consumer Affairs Authority Chairman Rumi Marsook ruled out an immediate price increase but it is learnt that talks are being held between the officials of the Trade Ministry and the Consumer Affairs Authority.

Industry sources said world prices had increased to US$1031 for a tonne of LPG from the earlier price of US$680 a tonne. The Middle Eastern crisis is said to be the reason for the increase in world market prices.

Domestic gas prices are revised every two months. Gas prices were last raised in August last year. At present the price of a 12.5 kg cylinder is Rs.2046. (Yohan Perera)