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* Domestic LP gas prices raised in Sri Lanka
Sat, Jan 5, 2013, 10:34 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 05, Colombo: Sri Lanka's Consumer Affairs Authority has allowed the country's LP gas suppliers, Litro and Laugfs, to raise the price of a 12.5 kg gas cylinder, effective from midnight Saturday (05).

Accordingly price of a 12.5 kg LP gas cylinder will be increased by Rs. 150. The new price of a both Litro and Laugfs LP gas cylinder will be Rs. 2,396.

The Consumer Affairs Authority said it has reviewed the requests by both, state-owned Litro and Laugfs, to raise the price of a 12.5 kg gas cylinder and agreed that the request was reasonable considering the rise in global market.

Litro sought a Rs. 300 increase on a 12.5 Kg gas cylinder while Laugfs requested a Rs. 517 increase. However, the Authority had only allowed an increase of Rs 150.

The Consumer Affairs Authority explained that the price hike was necessary, since the price of a metric ton of LP gas in the world market has risen from US$ 606 in July to US$ 1,008 in November.

Sri Lanka consumer authority reviews and revises the LP gas prices bimonthly.

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