Laugfs gas reduced by Rs 60

Irangika RANGE

Trade, Marketing Development, Cooperatives and Consumer Services Minister Bandula Gunawardane announced that the price of a 12.5kg domestic Laugfs gas cylinder has been reduced by Rs 60 with effect from today midnight.

Accordingly, the new price of a 12.5kg Laugfs gas cylinder will be Rs 1,421.

The Minister said Shell gas prices will remain unchanged and the price of a 12.5kg Shell gas cylinder is Rs 1550.

The price of a domestic gas cylinder has been revised following the gas pricing formula agreement formulated in every two months time by the Price Committee of the Consumer Affairs Authority (CAA) under the approval of the Supreme Court.

The price was also based on tax reduction from Rs 19.65 to Rs 8.70 ( imposed on kilo of gas) given by the Government to provide relief to the people. The Minister said Shell gas company had requested for a price hike by Rs 280, while Laugfs Gas company has requested a hike of Rs 84, but the CAA did not permit this.

Gas prices have gone down three times in 2009 while it has increased only twice.

The Minister said that Shell gas price was Rs 1,863 in September 2008 and this September, the price has reduced to Rs 1,550.

This was a price reduction of Rs 313.

The Laugfs gas price was Rs 1,859 in 2008 while it is Rs 1,421 this year. This is a Rs 438 reduction.