Sri Lanka, Nov. 14 -- Laugfs Gas has defended its recent price revision, maintaining that the increase was necessary to absorb mounting international cost pressures rather than to generate profits or inconvenience consumers.

Addressing a media briefing, Laugfs Gas Director and Chief Executive Officer Nalinda Kurukulasuriya detailed the compounding economic factors driving the adjustment.

He explained that global benchmark prices issued monthly by Saudi Aramco have surged dramatically, fueled by ongoing wartime conditions, which alone accounted for a Rs.706 increase per 12.5-kilogram cylinder.

Kurukulasuriya pointed out that the fallout from the conflict has also triggered a sharp rise in maritime freight and insurance charges, adding R...