Laugfs Gas PLC yesterday announced a substantial reduction in the prices of its Laugfs-branded domestic liquefied petroleum gas (LPG), effective midnight. 
As of today, the price of a 12.5kg domestic cylinder, under the Laugfs brand, will be reduced by Rs.625, to an MRP of Rs.4,115, within the Colombo district. 
The prices in the other areas and pack sizes will be adjusted accordingly. 

“This significant price revision comes as a testament to several positive developments and factors contributing to the favourable economic climate,” Laugfs Gas said in a statement.

It went on to acknowledge the supportive government policies, including the appreciating value of the Sri Lankan rupees against the US dollar, reduction in interest rates and availability of ample foreign exchange, facilitating the opening of letters of credit.

Since the expiration of the trade monopoly held by multinational Shell Gas in 2000, Laugfs Gas PLC has emerged as the sole private sector player in the highly dynamic LPG industry in Sri Lanka. 

Laugfs Gas PLC operates one of the largest LPG import and export terminals in the Indian Ocean region at the Hambantota Port, capable of handling 30,000 m/tonne shipments. This strategic advantage enables the company to optimise LPG costs, thereby facilitating this massive price reduction.

Moreover, Laugfs Gas PLC maintains a fleet of LPG vessels, solidifying its position as the only Sri Lankan LPG ship-owning company. Leveraging its robust infrastructure and logistic capabilities, the company has emerged as a leading LPG trader in the Asian region.

Looking ahead, Laugfs Gas PLC said it is committed to passing on these advantages to the Sri Lankan LPG consumers.