Litro asks for price increase from Cabinet | Daily News

Litro asks for price increase from Cabinet

Litro Gas Company Chairman Theshara Jayasinghe stated that Litro Gas Lanka Ltd. has submitted a request to increase the prices of LP Gas to the Cabinet of Ministers.

Addressing the media yesterday, he said that currently, he is unable to comment on the rates.

He further said that the company incurs a loss of US$ 4.5 billion at present. “ The monthly need of LP gas is around 25,000 to 30,000 tonnes. Earlier, the price of a tonne was around US$ 650, but now it has reached around US$ 1,000 with the transportation costs. The rupee was further depreciated in March, therefore, a loss of Rs.1.8 Billion occurred in March”, he added.

Jayasinghe stated that the company now distributes roughly 30,000 LP gas cylinders to the market everyday, exceeding the daily requirement, and that almost one million LP gas cylinders have been distributed to the market in the last ten days.

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