Price of LP Gas will not be increased: Minister Amaraweera

• The Litro Gas company had requested a Rs. 670 price hike while Laugfs Gas PLC called for a price hike by Rs. 700 for a cylinder 
• The CAA considered to grant permission to increase the price by Rs.400,  but the gas giants did not agree and finally no decision was reached

By Chaturanga Samarawickrama  

The members of the committee which was appointed to evaluate the request for the revision of the price of LP gas yesterday decided not to increase the domestic gas prices, Environment Minister Mahinda Amaraweera said.   

The decision was taken following a meeting with the heads of the two gas giants at the Ministry.  
Following recent meetings with the heads of the two gas giants, the Minister stated that the Litro Gas company had requested a Rs. 670 price hike while Laugfs Gas PLC called for a price hike by Rs. 700 for a cylinder.   However, the Consumer Affairs Authority (CAA) considered to grant permission to increase the price by Rs.400, but the gas giants did not agree and finally no decision was reached, the Minister said.  

“The committee requested the two companies to propose a better way to solve the issue without going through a price increase. However, there was no response from the gas companies even at yesterday’s meeting,” Minister Amaraweera said.  

“The gas companies claimed that they used to run the business at a loss of more than Rs. 1 billion a month during the past few months. They also said that gas prices should be increased due to the appreciation of the value of the US dollar and the huge increase in the price of LP gas in the world market,” the Minister said. 

•  The gas companies claimed that they used to run the business at a loss  of more than Rs. 1 billion a month during the past few months