Drop in world gas prices likely in March - Laugfs Chairman
Industrial analysts said that the world gas price may drop in March
this year. Laugfs could pass that benefit to the customers, Laugfs Gas
Chairman W. K. H. Wegapitiya said.
Gas companies entered into an agreement with the Consumer Affairs
Authority (CAA) for a "formula pricing mechanism" last year and revised
prices at the beginning of this year.
Wegapitiya said that the new price revision has been done according
to the pricing formula. This is an important parity price mechanism of
enjoying a price reduction. During the winter season gas prices peak and
in summer season prices drop, he said.
The government has already provided tax concessions for LPG imports
and nearly 30 per cent of the population uses LPG gas in Sri Lanka.