April 02, Colombo (LNW): Laugfs Gas PLC announced a substantial reduction in the prices of its Laugfs-branded domestic liquefied petroleum gas (LPG) effective midnight yesterday.
Effective immediately, the price of a 12.5kg domestic cylinder, under the Laugfs brand, will be reduced by Rs. 625, bringing the MRP to Rs. 4,115 within the Colombo district.
Prices in other areas and pack sizes will be adjusted accordingly.
In a statement, Laugfs Gas attributed this significant price revision to several positive developments and factors contributing to the favourable economic climate.
The company acknowledged supportive government policies, including the appreciating value of the Sri Lankan rupee against the US dollar, reduction in interest rates, and availability of ample foreign exchange facilitating the opening of letters of credit.
Since the expiration of the trade monopoly held by multinational Shell Gas in 2000, Laugfs Gas PLC has emerged as the sole private sector player in Sri Lanka’s dynamic LPG industry.
Operating one of the largest LPG import and export terminals in the Indian Ocean region at the Hambantota Port, capable of handling 30,000 m/tonne shipments, Laugfs Gas leverages this strategic advantage to optimise LPG costs, facilitating the substantial price reduction.
Additionally, Laugfs Gas PLC maintains a fleet of LPG vessels, solidifying its position as the only Sri Lankan LPG ship-owning company.
Leveraging its robust infrastructure and logistic capabilities, the company has emerged as a leading LPG trader in the Asian region.
Looking ahead, Laugfs Gas PLC reaffirmed its commitment to passing on these advantages to Sri Lankan LPG consumers.
