Sri Lanka raises LP gas price

ECONOMYNEXT – Sri Lanka has raised the liquefied petroleum gas price of a domestic 12.5 kilogram cylinder by 110 rupees from midnight yesterday, the first since the current administration re-politicised gas pricing in 2015.

The LPG price in Colombo from state-run Litro gas would go up to 1,431 rupees from 1,341 rupees, and to 1,509 rupees from 1,399 rupees in Hambantota and to 1,643 rupees from 1,533 rupees in Jaffna.

Sri Lanka’s LPG prices were de-politicised and changed to match global prices during the ousted Mahinda Rajapaksa regime, but was taken under the control of politicians from 2015.

Privately owned Laugfs Gas and state-run Litro were hit as global prices of butane and propane moved up.

Analysts also warn that leaving price changes in the hands of politicians will increase opportunities for corruption. (Colombo/Sept26/2017)

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