Laugfs Gas PLC, one of the main liquefied petroleum gas suppliers in Sri Lanka, announced a staggering hike in the rates of its products today (March 20).
Thereby, the price of a 12.5kg domestic LP gas cylinder soared to Rs. 4,199.
Meanwhile, the price of a 5kg cylinder increased to Rs. 1,680 while the price of a 2kg cylinder rose to Rs. 672.
Speaking to Ada Derana in this regard, a spokesperson of the Consumer Affairs Authority (CAA) said LP gas companies are allowed to revise the prices at their discretion after the price control on LP gas was lifted.
Accordingly, the prices of domestic LP gas cylinders issued to the market are decided by the companies, the spokesperson added.
The LP gas companies are however instructed to inform the CAA about price revisions. The CAA said the Laugfs Gas PLC is yet to convey its move to the authority.
Sri Lanka is currently afflicted by a shortage of LP gas due to the ongoing forex crisis. Long queues are still seen outside LP gas distribution centres across the island.