Litro November gas price revision on Saturday

By Pradeep Prasanna Samarakoon and Sujeewa Thathsara

The price of Litro gas would be revised on 05 November 05, its Chairman Muditha Peiris said.

As per the gas price formula, prices revisions are effected on the fifth of each month.

However, Peiris refused to reveal whether the prices would go up or down. “If this is revealed in advance, some people will try to exploit the situation,” he added.

Litro is issuing close to 40,000 cylinders of gas daily, Peiris said.

“Even now traders in some areas, try to create shortages because they expect a price hike and people are panicking. People have been complaining that some dealers are hiding cylinders, expecting a price increase. There is no need to panic because we have enough stocks in the country. Distribution continues uninterrupted,” he said, adding that Litro had paid Rs. 14 billion to the Treasury. The company received USD 70 million from the World Bank, through the Treasury to buy gas. “We paid back 6.5 billion rupees in September and paid another 7.5 billion last month,” he said. The Litro Chairman pledged that the full amount would be paid to the Treasury by December.