ECONOMYNEXT – Sri Lanka’s state run Litro Gas said it will cut the price of 12.5 kilogram cylinder of liquefied petroleum gas (LP gas) by 452 rupees to 3,186 rupees from midnight of June 04.
The price of a 5 kilogram cylinder will be cut by 181 rupees to 1,281 rupees, from the existing 1,462 rupees.
A 2.3 kilogram cylinder will be reduced by 83 rupees to 598 rupees, from the previous price of 661 rupees.
The prices are being on a an newly introduced formula based on global prices, the firm said.
Sri Lanka’s rupee has appreciated amid complementary money and exchange policies of the central bank, allowing imported energy prices and domestically produced export commodities to fall.
The rupee has fallen from around 366 rupee at the end of last year to below 300 rupees by Friday. (Colombo/June 04/2023)