• Says the company is currently observing the gas price fluctuation in the world market

 By Chaturanga Samarawickrama

The price of LITRO gas cylinders would be further reduced in the first week of November in accordance with the gas price formula, which would come into effect on the 5th of every month, LITRO Lanka Chairman Muditha Peiris said.

Addressing the media, he said that the company is currently observing the gas price fluctuation in the world market.

 However, there is a trend of reducing the gas prices in October, but we have to observe it until November 1 and 2 to announce the gas price reduction for November, he said.

 “We are currently observing the gas price fluctuation in the world market. Accordingly, there is a trend of reducing the gas prices in October, but we have to observe it correctly to announce a gas price reduction in November,” he said.

 “If we get any benefits, it will definitely pass to the consumers,” Peiris said.  He said as expected in October, Rs. 7.5 billion had been paid to the Finance Ministry by last Friday.

 “We paid Rs. 6.5 billion in September and we are hoping to pay the remaining Rs. 13 billion by the first two weeks of December. 

The Chairman also said LITRO has already paid back Rs. 14 billion of the total dues.

 However, we managed to settle the country’s gas shortage 100 percent, the Chairman added.