Laugfs Gas says price increase moderate despite sharp rise in global gas prices

Sri Lanka’s duopoly cooking gas market’s only private sector player Laugfs Gas said it chose to implement a more moderate increase in gas cylinder prices, despite the global LP gas prices rising 20 percent in the past three months.
Laugfs Gas said the world market gas price stood at US $ 463 per metric tonne in August. By September, this price had surged by US $ 94, reaching US $ 557 per metric tonne. As a result, the domestic gas cylinder prices in Sri Lanka were anticipated to rise by approximately Rs.860.

“However, thanks to prudent management decisions that involved accurate market price forecasts, Laugfs Gas chose to implement a more moderate increase in gas cylinder prices, raising them by only Rs.145, rather than passing on the full impact of the global gas market price hike,” Laugfs Gas said in a statement.
Accordingly, the new prices of Laugfs gas cylinders in the Colombo district are: a 12.5kg cylinder at Rs.3,835 (previously Rs.3,690) and a 5kg cylinder at Rs.1,535 (previously Rs.1,476).

The price of Litro gas was also revised upwards from midnight yesterday. The revised prices are: a 12.5kg cylinder increased by Rs.145 to Rs.3,127, a 5kg cylinder increased by Rs.58 to Rs.1,256 and a 2.3kg cylinder