Gas price hike likely: Gas companies

By Chaturanga Samarawickrama  

Gas companies have requested the Consumer Affairs Authority (CAA) to increase the price of a 12.5Kg domestic gas cylinder considering the price increase in the world market, foreign exchange and other cost factors, LAUGFS Group Chairman W.K.H. Wegapitiya said.  He said requests in this regard have been made to the CAA since last October.  
The President, President’s Secretary and Trade Minister had been informed of this and several rounds of discussions too were held with the CAA during the past four months, he said.   “The fuel price and the price of gas had gone up in the world market quite unexpectedly.   Therefore, we have to sell every domestic gas cylinder bearing a huge loss,” he said.  “There was no price hike in domestic gas cylinders during the past six years. Therefore, the two prime local gas companies are now facing colossal losses,” Mr. Wegapitiya said.  We hope the Government would provide a favourable response to these requests this week, Mr. Wegapitiya added.