Measures will be taken to introduce a pricing formula for domestic gas cylinders, Laugfs Gas PLC has announced.
Chairman of the company W.K.H. Wegapitiya told a TV programme, that according to the current trend it has been estimated that gas prices will reduce by next month.
“We also believe that gas prices will continue to decrease during the following months,” he said.
Wegapitiya said the company intends to introduce its independent pricing formula during the first month it receives such a concession.
“Laugfs is the only organization that follows a system where gas prices are reduced in line with a drop in prices, and increased in line with the increase in gas prices,” he said.
He further said that the Consumer Affairs Authority had recently removed domestic gas cylinders as an essential item, resulting in the authority being unable to determine a maximum retail price (MRP) for the product.
Stating that Laugfs had provided domestic gas for a reduced price for the last three years, Wegapitiya said only last month the company faced a situation to quote a high price.
He further said that in the event of an accident related to its gas cylinder, they have insurance cover for such incidents. (NewsWire)