Laugfs gets nod to increase gas prices, state-owned Litro to sell at existing prices

The government has decided to grant permission for the private owned Laugfs to increase its prices while the state owned Litro gas is to supply gas under prevailing prices.

Minister of Trade Bandula Gunawardana at a special press conference held today (12) said that the private gas company has requested to increase gas prices 6 months back.

He said , therefore even though they held the prices unchanged until yesterday, they allowed private gas company  to increase prices today as they are unable to sell products bellow international market prices.

Minister Gunawardena said that the state owned  gas company is bearing huge losses and providing gas to the prevailing prices in order to reduce the burden on the consumers.

State Minister of Consumer Protection Lasantha Alagyawanna said that Laugfs  earlier requested a Rs 475 price increase per 12.5 kg gas cylinder while a Rs 190 price increase for 5kg cylinder.

He said that one private company (Laughs) stopped issuing their products during the past months claiming they are unable to sell their products prices below international prices as international market prices increased.

However, the Consumer Affairs Authority suggested a Rs 363 price increase per 12.5 gas cylinder and Rs 145 per 5 kg cylinder.

 Therefore, the laughs company is able to sell 12.5 kg cylinder for Rs 1856 while sell 5 kg cylinder for Rs 743

However, he elaborated that the government decided state owned Litro gas to issue gas prevailing prices bearing losses. 

Meanwhile people in the outstations continued to experience gas shortages. In areas such as Kurunegala there were long queues seen in the town to purchase gas.