LP gas prices fall

Shirley WIJESINGHE

The Government has reduced the price of Laugfs LP gas cylinder (12.5 kg) and Shell LP gas cylinder (12.5 kg) by Rs. 334 and Rs. 310 respectively.

The new prices will be effective from midnight yesterday.

A Laugfs LP gas cylinder will now be Rs.1,069 and Shell LP gas cylinder Rs. 1,309.

Addressing the media yesterday Trade, Marketing Development, Co-operative and Consumer Affairs Minister Bandula Gunawardane said the total price reduction received by consumers during the last four months was Rs. 790 from Laugfs gas cylinder and Rs.554 from Shell gas cylinder.

Commenting on the high cost of living which the country experienced in the end of last year, he said the inflation rate was at 28 per cent.

But due to tax relaxation on essential commodities introduced under the Special Commodity Levy Act in the budget last year, the Government incurred a loss of Rs. 9,991 million of revenue last year. This is equivalent to the total expenditure which can be made on Samurdhi beneficiaries annually, he said..

The Minister said the Government also reduced the price of a litre of diesel, furnace oil and petrol by Rs. 40, Rs. 40, Rs. 37 and Rs. 30.