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Thursday, 16 August 2018 - 13:22
Gas price formula to be implemented within a month
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The Cost of Living Committee has decided to introduce a price formula to determine the retail price of domestic gas.

A spokesperson from the Consumers Affairs Authority stated that the formula will be submitted to the Cost of Living Committee within a month.

When the new gas formula is introduced, the price that domestic gas will be sold at the retail market will be decided based on the global market prices.

The Consumer Affairs Authority stated that this step was taken in response to a demand by gas companies to increase retail prices.
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