LAUFGS Auto Gas Lanka Ltd has decided to reduce the price of a 12.5 kilo domestic gas cylinder by Rs 50, from Rs 409 to Rs 359 with effect from Wednesay’s, said commerce and consumer affairs minister Ravi Karunanayake at a press conference on Wednesay.

He said that this reduction was due to a number of reasons, such as the reduction in the world market price for crude oil, successful negotiations conducted by his ministry with the company, cutting down on waste and increasing efficiency, working towards breaking monopolies and the ‘general business confidence generated when a UNP government is in power.’

Karunanayake also said that Ceylon Petroleum Corporation (CPC) chairman Daham Wimalsena also extended his cooperation to make this reduction possible. LAUFGS buys its LP gas, which is used for cooking, from CPC.

The minister further said that it would be possible to pass down this reduction to auto gas as well. Karunanayake further said that negotiations are also on with Shell Gas as well in order to obtain a price reduction. Shell markets its cooking (LP) gas at Rs 509 a cylinder. LAUFGS officials were also present at this occasion. (PA)