The prices of Litro domestic LP gas cylinders have been increased with effect from midnight today (10), the Litro Gas Company has announced.
Accordingly, the price of the 12.5 kg cylinder has been increased by Rs. 300 to Rs. 3,990 while the price of the 05 kg cylinder has been increased by Rs. 120 to Rs. 1,602.
Meanwhile, the price of the 2.3 kg cylinder has been hiked by Rs. 56 with the new price of Rs. 750.
Accordingly, the prices for domestic LP Gas cylinders in the Colombo District from tomorrow are as follows:
- 12.5kg gas cylinder: Rs. 3,990
- 05kg gas cylinder: Rs. 1,602
- 2.3kg gas cylinder: Rs. 750
Meanwhile yesterday, the Ceylon Petroleum Corporation (Ceypetco) announced a significant increase in fuel prices in the wake of rising global fuel prices owing to the Middle East conflict.
Accordingly, the price of Auto Diesel was increased by Rs. 22 to Rs. 303 per litre while Super Diesel was hiked by Rs. 24 to Rs. 353 per litre.
Petrol 92 Octane was increased by Rs. 24 and Petrol 95 Octane by Rs. 25 with the new prices set as Rs. 317 and Rs. 365, respectively.
The price of a litre of Kerosene was hiked by Rs. 13 to Rs. 195.
Meanwhile, Lanka IOC also revised fuel prices in line with the Ceypetco prices.
The revised rates are as follows:
- Auto Diesel – Rs. 303 (increased by Rs. 22)
- Super Diesel – Rs. 353 (increased by Rs. 24)
- Petrol 92 Octane – Rs. 317 (increased by Rs. 24)
- Petrol 95 Octane – Rs. 365 (increased by Rs. 25)
- Kerosene – Rs. 195 (increased by Rs. 13)
Speaking on the “Ada Derana Big Focus” program, Professor Priyanga Dunusinghe of the Department of Economics at the University of Colombo stated that the government must take prompt steps to prepare for the likely increase in domestic fuel prices given the global trend.
He explained that global crude oil prices have risen sharply, noting that the price of Brent crude stood between US$ 92 and US$ 93 per barrel last Friday, but climbed to around US$ 115 per barrel when markets opened on Monday.
According to Prof. Priyanga Dunusinghe, the increase in global oil prices will likely result in higher prices for petrol, diesel, and gas, while also pushing up electricity generation costs, especially where fuel is used for power production.
