Litro Gas Lanka Ltd. has decided against increasing prices of domestic liquified petroleum (LPG) considering the Sri Lankan rupee’s appreciation against the US dollar.

In a statement yesterday (5), Litro Gas Lanka Ltd. Chairman Muditha Peiris stated that although the domestic cylinder price should be increased by a considerable amount according to the pricing formula and LPG prices in the global market, the price will not be revised following the revision back in February, in order to provide the benefit of Sri Lankan rupee appreciation to Litro consumers.

Accordingly, the price of a 12.5 kg Litro LPG cylinder will remain at Rs. 4,743; the 5 kg cylinder will remain at Rs. 1,90; while the price of a 2.3 kg cylinder will remain at Rs. 883.

Peiris claimed at a press briefing on 5 February that despite the drastic increase in prices of LPG in the global market, Litro Gas “only” increased the price of the 12 kg domestic gas cylinder by about a third of the actual increase due to Litro having studied market trends and placing orders for over 7,000 metric tonnes (MT) of LPG in advance.

Peiris noted that the price of a 12.5 kg cylinder, which should have increased by approximately Rs. 950 according to the pricing formula, was only increased by Rs. 334.