Sri Lanka, April 9 -- The recent sharp increase in LP gas prices is a result of the global rise in LPG prices, Foreign Affairs, Foreign Employment and Tourism Minister Vijitha Herath said.
Speaking at the weekly Cabinet briefing on Tuesday (7), he noted that fluctuations in the Saudi Aramco benchmark, which determines global LPG prices, have directly impacted domestic prices.
"The price of a metric tonne of LPG rose significantly from US$ 541.25 in March to US$ 787.50 in April. In response, Laugfs Gas increased the price of a cylinder by Rs. 1,070 based on costs, while Litro raised its price by Rs. 775," he said.
He also pointed out that although Litro's direct cost per cylinder is around Rs. 985, the full burden has not been passed on t...