Pursuant to Regulation 8 of the Consumer Protection (Control of Price of Petroleum Products) Regulations 2011 as amended, the Petroleum Pricing Committee (PPC) has, on 7 April 2020, verified the correctness of the retail prices of Mogas (Motor Gasoline) and Gas Oil (Diesel) as computed by the State Trading Corporation (STC) after including the item “Contribution to the COVID-19 Solidarity Fund” at the rate of     Rs 4.00 per litre in the price structures of both Mogas and Gas Oil. On the basis of information and documents provided by STC, the PPC approved that the retail prices of Mogas and Gas Oil be maintained as follows as per Regulation 5(1) (a) and 5(1) (b):

 Product       

Retail Price
Rs / Litre

 Mogas

44.00

 Gas Oil

35.00


Based on the new Reference Prices, the new price structures of Mogas and Gas Oil are as shown below:

                         

Mogas

Gas Oil

Reference Price  - US$ per metric ton

353.4900

 -

Reference Price  - US$ per barrel

-

48.8100

CIF - US$/litre

0.3059

0.3310

Exchange rate – Rs/US$

40.0000

40.0000

 

                   Rupees per litre

CIF

12.2360

13.2400

Excise duty

12.2000

4.7000

Contribution to Road Development Authority

1.8500

1.7500

Contribution to Rodrigues transportation and storage

0.4100

0.4100

Contribution to the construction of storage facilities for petroleum products

0.6500

0.5000

Contribution to subsidy on LPG, Flour and Rice

3.0000

1.2000

Contribution to the COVID-19 Solidarity Fund

4.0000

4.0000

STC's Operational Expenses

0.3500

0.4000

Adjustment

(0.4891)

0.3868

TRANSFER PRICE TO OIL COMPANIES

34.2069

26.5868

Oil Companies’ operational expenses and wholesale margin

2.1500

1.9800

VAT (15%)

5.7391

4.5652

WHOLESALE PRICE

42.0960

33.1320

Retail margin

1.9040

1.8680

RETAIL PRICE (Price at Petrol Service Station)

44.0000

35.0000

 

07 April 2020