Possibility of further reduction in LP Gas prices – Litro Chairman

According to the price fluctuations in the world market, the price of domestic LP Gas may decrease further by next month, Litro Gas Company said. It has been noticed that the LP Gas price of the world market shows a gradual decrease during the past few weeks.

Litro Gas Chairman Company Muditha Peiris said that Litro will be able to pay off the loan obtained from the World Bank in December to purchase gas aiming to end the severe gas scarcity experienced a few months ago.

“Litro Gas Company is still receiving portion of the loan from the World Bank. But we have used the initial shares to solve the gas crisis. However Litro Gas have started paying loan instalments in rupees again. We paid Rs 6.5 billion in September and we paid Rs 7 billion in October. We have paid Rs 7.5 billion again by the end of November,” the Chairman added.

According to him Litro Gas hopes to pay the rest of the loan within the month of December. Especially at this time, according to the fluctuations in the gas prices in the world market, we are thinking of reducing the gas prices again at the beginning of November. On October 5, a 12.5 kg domestic gas cylinder was reduced by Rs.271. A 12.5 liter domestic gas cylinder currently sells for Rs 4,280.

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