Litro Gas to further reduce prices today | Daily News
In accordance with recently introduced price formula

Litro Gas to further reduce prices today

* Price margin reduction between Rs. 100 to Rs. 200
* New System for persons residing abroad can pay for cylinders in dollars

In accordance with the price formula introduced recently, the Litro Gas Lanka Company expects to further reduce LP Gas prices of all domestic gas cylinder categories by a margin of Rs.100 to Rs. 200 with effect from midnight today, Litro Chairman Muditha Peiris said yesterday.

He said in the coming week, a system where a person residing in a foreign country can pay in dollars for a gas cylinder and ask the relatives of the payee to collect the gas cylinder through the nearest dealer points. He said monies earned by this method will not be invested in anything else but will be used to only buy gas.

Gas prices increased in June and dropped in August, according to the newly introduced price formula where gas prices are reviewed and amended each month.

Litro maintains around 90 percent market share over LP gas in Sri Lanka. Litro Gas Lanka Limited reduced the price of all categories of domestic LP Gas cylinders with effect from midnight on August 8.

Accordingly, the price of a 12.5Kg cylinder was reduced by Rs.246, a 5Kg cylinder by Rs.99 and a 2.3Kg cylinder by Rs.45. Menawhile, Peiris yesterday said that despite the price reductions the company has generated a significant profit in the past 2 months and the profit of the Litro company has been over Rs. 700 million in the month of August alone. 

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