Gas companies seek price hike

Irangika RANGE

Shell Gas and Laugfs Gas Companies have requested the Consumer Affairs Authority for a price hike of 12.5 kg domestic gas cylinder by Rs.244.60 and Rs.192.45 respectively.

A price amendment for gas will be compulsory by midnight of August 31 observing the prevailing market conditions and following the evaluated price formula approved by the Supreme Court, Trade, Marketing Development, Co-operatives and Consumer Services Minister Bandula Gunawardana told the Daily News.

He said that gas prices will be evaluated under the price formula formulated by the CAA following Supreme Court approval.

Under this price formula, the gas prices would fluctuate six times a year. "The last gas price amendment was made two months ago," he said.

"It is clear that the price of imported 12.5 kg domestic gas cylinder would go up when the world gas prices increase," he said.