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| Monday, 2 August 2004 |
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Shell Gas Lanka Limited has revised the price of its 12.5 kg domestic cylinder from midnight August 1. The new selling price of a 12.5 kg domestic cylinder will be Rs. 690 (Colombo basis). This price includes a VAT component of Rs. 84.95, Shell Gas Lanka Limited said in a press release yesterday. Prices were kept constant at Rs. 620 (Colombo basis) since January 2004 despite escalating import costs, due to a subsidy arrangement with the Government. The subsidy amount was determined by the Consumer Affairs Authority based on the April and May import costs and other pricing parameters. This subsidy has now been revoked by the Government resulting an increase of Rs. 70 per 12.5 kg LP gas cylinder in Colombo. |
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