The Cabinet Sub-Committee on the Cost of Living will meet today to take a final decision on revising LP gas prices, Industry and Commerce Ministry Director Indika Ranatunga said.
Speaking to the Daily News yesterday, she said a price formula for gas prices is now being finalised.
She said both Litro and Laughs gas companies have submitted applications asking for an increase of gas prices citing world market prices as a reason.
She said companies can submit applications for a price revision every two months.
She said the amount that a domestic 12.5kg cylinder of gas would be increased will be announced after finalising the formula.
Consumer Affairs Authority Assistant Director W.R.Meewanage said the two gas companies complained that distributors were concealing the gas cylinders following the recent news items which said that gas prices are to be increased by Rs.158. The price of a domestic LP gas cylinder was increased by Rs.245 on April 27 but reduced again by Rs. 138 on June 29.