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Shell Gas up by Rs. 39

Shell Gas yesterday announced the increase by Rs. 39 of its 12.5 kg domestic cylinder. The new selling price will now be Rs. 567 (Colombo).

"Due to increases in international LPG prices from June to September 2002, Shell Gas Lanka Limited is compelled to adjust the price of its 12.5 kg. domestic LPG cylinder by Rs. 39 with effect from midnight 21st October 2002. Accordingly, the new selling price of a 12.5 kg domestic cylinder will be Rs. 567 (Colombo)" a company release said.

Global prices have increased by US $ 40 per metric tonne since June 2002.

"This adjustment is in line with the pricing mechanism agreed with the Government where domestic LPG cylinder prices are linked to international LPG prices through a price ceiling mechanism similar to the model used by the Ceylon Petroleum Corporation (CPC) for petrol and diesel. Though the mechanism calls for an increase of Rs. 50 per cylinder Shell's price is revised by only Rs. 39 at this time in an effort to cushion the effects of the global increase on consumers", it said.

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