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12.5kg LP gas cylinder now Rs 4,860

Prices of domestic cylinders of gas were increased from midnight yesterday (26).

The price of a 12.5 kg Litro domestic cylinder of gas was increased by Rs 2,185, while the price of a 5 kg cylinder of gas was increased by Rs 874. The price of a 2.3 kg cylinder of gas was increased by Rs 404.

Thus, a 12.5 kg cylinder of gas will be sold at Rs 4,860, while 5 kg and 2.3 kg cylinders will be sold at
Rs 1,945 and Rs 910.

Chairman of Litro Gas Lanka Vijitha Herath said there is no other option but to raise the price of a domestic cylinder of LP gas, to ensure uninterrupted supply.

He said Litro Gas Lanka owes Rs 24 billion for gas imports, including Rs10 billion in bank loans, blaming the loss on the selling price of a cylinder.

He was speaking at a special Media briefing on the LP Gas crisis yesterday (26). “Two shipments are scheduled to arrive, but we do not have enough funds to import any additional shipments,” he explained.

Herath said, while it costs around Rs 5,500 to manufacture and release a single cylinder of gas to the market, a cylinder of gas is presently available for Rs 2,500.

According to the Chairman, the daily demand for gas is around 100,000 cylinders, and the daily loss to his company is around
Rs 250 million.

Thus, he reiterated, there was no choice but to revise the price of imported gas.

He also said the gas import deal struck with Oman has expired and they are looking to strike a new deal. He said they are presently paying around Rs 4,000 per cylinder.

He added that the World Bank has agreed to open Letters of Credit for future gas imports.

By Thameenah Razeek