Jun 30, Colombo: The bimonthly price adjustment of the LP gas in Sri Lankan market is to be announced this evening. The new prices are to be in effect from tomorrow, July 01 for two months.

The Consumer Affairs Authority was considering the world market prices of LP gas and the recommendations of the gas retailers in the past weeks in preparation of new price formula.

However, economists do not predict a large price reduction although the gas price has gone down in international markets. Some anticipate the introduction of new tax and a slight reduction of price.

A 12.5 kilogram Shell gas cylinder is sold at Rs. 1,769 while a Laugfs gas cylinder is sold at Rs. 1,844 following the price increase from May 06.

Two LP gas retailing companies are operating in Sri Lanka and the cabinet recently approved a proposal to take over the former state-owned gas company that was privatized to Shell Gas.