LP gas shortage resulted in ‘panic-buying mode’ - Litro
November 2, 2019 11:30 pm
A shortage of Liquefied Petroleum (LP) gas is reported across the country for the past few days.
Ada Derana reporters stated that most of the LP gas shops currently remain closed and the shortage has shown a considerable increase today.
Issuing a statement in this regard, Litro Gas Lanka said “In the aftermath of the Saudi Aramco Drone attack that took place in September, there is an understandable shortage of LP gas in the market. The current status of the LPG shortage could be attributed to a number of convolving factors.”
The Litro Gas Lanka further stated the “prevailing bad weather conditions continue to pose challenges to vessels trying to reach the two bunkering facilities of Litro Gas further aggravating the situation. Off-shore unloading too slowed down severely to the extent that there are vessels waiting in-line to be unloaded off-shore.”
According to Litro Gas, a new segment of consumers entered the market, tempted by the low price of LPG at just Rs Rs.1,493. “The current price, in fact, is the lowest experienced within the past few years. In 2016, the price of a 12.5kg LPG cylinder reduced to Rs 1,321.”
The apparent shortage resulted in a ‘panic-buying mode’ within a cross-section of consumers, increasing the average demand to 1,300MT from 900 – 950MT, putting further pressure on the entire logistics process.
Litro Gas Lanka said it is efficiently and knowledgeably working to resolve the current situation to continue to supply the required amount of LP gas cylinders to the market undeterred by challenges.
