By Mario Andree
Minister of Cooperatives and Internal Trade Johnston Fernando yesterday said that there would be no price increase of gas despite several requests made by Laugfs Gas PLC claiming the company was suffering heavy losses.
He said the ministry came to the decision that gas prices need not be increased after considering the current world market and local prices.
Though Laugfs Gas PLC had submitted a request for an increase, the State owned Litro Gas had so far not submitted any such request, the Minister said adding that a price revision was not expected to take place this year.
The last price increase was made in August when both, Laugfs and the State owned Litro increased the price of a 12.5 kg cylinder of domestic gas by Rs. 156. The price of a cylinder of domestic gas currently is Rs. 2,046.
A tonne of gas in the World Market, which was US$ 497 in October, had increased to US$ 498 early this month.
The government recently increased fuel prices considering world market prices to mitigate losses.
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