CHATURANGA PRADEEP SAMARAWICKRAMA Reply To:
Name - Reply Comment
Domestic gas prices adjusted due to global market pressures
Colombo, April 7 (Daily Mirror) - Domestic gas prices have been revised following a sharp rise in international LPG rates, the government announced.
Speaking at the weekly Cabinet media briefing today (07), Minister Vijitha Herath said global gas prices have surged in line with the Saudi Aramco index, prompting the adjustment in local prices.
He noted that while prices have increased, gas supply to the country remains uninterrupted under the current import arrangement. The government’s new tender system sources LPG primarily from the United States (80%) and South Africa (20%), replacing previous Middle Eastern suppliers.
The Minister also pointed out that limited storage capacity in Sri Lanka has contributed to higher import and handling costs. Due to the lack of adequate domestic storage, gas is temporarily stored in the Maldives before being shipped to Sri Lanka, with imports arriving approximately every three days. These logistics, he said, have added to the overall cost burden.
Despite the price hike, authorities highlighted that the supply chain is stable and that plans are underway to develop permanent storage infrastructure to reduce future costs and ensure a more consistent supply.
Comments - 4
Recommended
You May Also Like
Trending
