LAUGFS Gas PLC Chief Executive Officer Nalinda Kurukulasuriya has apologised to consumers for the recent gas shortage while defending the company’s decision to increase the price of a 12.5 kg cylinder by Rs. 1,775.
Kurukulasuriya said the shortage, which lasted several weeks, was caused by a combination of international supply disruptions and regulatory restrictions affecting the company’s Hambantota LPG terminal.
“As a company accountable to the country, I must first apologise to our customers for the inconvenience caused by our inability to supply gas,” he said.
Explaining the price increase, Kurukulasuriya said rising international LPG prices, higher shipping and insurance costs, exchange rate fluctuations and taxes had significantly increased the company’s expenses.
He said the revised price of Rs. 6,741 for a 12.5 kg cylinder was necessary to cover costs rather than generate additional profits.
“This is a break-even price, not a profit-making price,” he said.
The CEO also revealed that restrictions imposed following a Board of Investment audit had affected the company’s ability to supply LPG from its Hambantota terminal to the domestic market.
He explained that the company had exceeded the permitted volume of LPG released to the local market under conditions linked to its export operations.
As a result, LAUGFS Gas had been forced to seek alternative supply arrangements at a time when international LPG availability was already under pressure.
Kurukulasuriya said the company had secured fresh LPG shipments and resumed distribution, while the government was working with relevant authorities to resolve the restrictions affecting Hambantota.
He also urged consumers to avoid panic buying, saying the practice was placing additional pressure on supplies.
The CEO expressed confidence that the shortage would ease over the coming days as distribution continued. (Newswire)
