Gas prices up

The price of a 12.5 kg domestic gas cylinder has been raised by Rs. 191 and a 2.3kg cylinder by Rs. 35. The new price of 12.5kg cylinder will now be Rs. 1,500 and a 2.3kg cylinder Rs. 276. Meanwhile LAUGFS gas has increased it's price of cylinder to Rs. 1307.

The price revision came into effect from mid night yesterday. These prices are based on the import cost for February 2009 and March 2009 and have been approved by the Consumer Affairs Authority, in line with the Pricing Formula Agreement, a release from Shell Gas said.

It said: "Shell Gas Lanka Limited has passed on the benefit of declining import costs to the consumer in line with the Pricing Formula Agreement with price reductions on November 1, 2008 and January 1, 2009. Import costs for February 2009 and March 2009 have reflected an increase compared to the preceding two months resulting in a price increase, which has been approved by the Consumer Affairs Authority.