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Sri Lanka’s Litro Gas hikes prices

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ECONOMYNEXT – Sri Lanka’s state-run Litro Gas said it is increasing the price of a 12.5 kilogram cylinder by 80 rupees to 4,360 rupees with effect from November 06.

A 5kg cylinder will be raised by 30 rupees to 1,750 rupees.

A 2.5kg cylinder will be raised by 15 rupees to 815 rupees.

Sri Lanka’s Litro Gas is raising fuel through a price formula to prevent losses and borrowings which hit the exchange rate, after the country got into a currency crisis due to artificially low interest rates maintained with printed money by the central bank.

Litro Gas said it is raising price by a less than indicated by the price formula. (Colombo/Nov06/2022)

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