LAUGFS Gas cuts 12.5kg cylinder price by Rs. 625

Tuesday, 2 April 2024 02:01 -     - {{hitsCtrl.values.hits}}

LAUGFS Gas PLC, yesterday announced a substantial massive reduction in the prices of its LAUGFS branded domestic LPG.

The price of a 12.5kg domestic cylinder under the LAUGFS brand will be reduced by a staggering Rs. 625 to be at an MRP of Rs. 4,115 within the Colombo District. Prices in other areas and pack sizes will be adjusted accordingly.

LAUGF said this significant price revision comes as a testament to several positive developments and factors contributing to the favourable economic climate. It acknowledged the supportive Government policies, including the appreciating value of the Sri Lankan rupees against the US dollar, reduction in interest rates, and the availability of ample foreign exchange facilitating the opening of letters of credit.

LAUGFS is the only private sector LPG company listed on the Colombo Stock Exchange (CSE).

Since the expiration of the trade monopoly held by multinational Shell Gas in 2000, LAUGFS Gas has emerged as the sole private sector player in the highly dynamic LPG industry in Sri Lanka. From its humble beginnings, the company has evolved into a regional energy powerhouse, boasting world-class LPG infrastructure.

LAUGFS Gas operates one of the largest LPG import and export terminals in the Indian Ocean region at the Hambantota Port, capable of handling 30,000 m/ton shipments. This strategic advantage enables the company to optimise LPG costs, thereby facilitating this massive price reduction.

LAUGFS Gas 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 is committed to passing on these advantages to Sri Lankan LPG consumers. With its unwavering dedication to excellence and customer satisfaction, the company aims to further enhance the accessibility and affordability of LPG across the nation.