The Petroleum Pricing Committee (PPC) met on Monday 3 November 2025 to assess the retail prices of Mogas (L’Essence) and Gas Oil (Diesel) in accordance with Regulation 8 of the Consumer Protection (Control of Price of Petroleum Products) Regulations 2011 (as amended). After a thorough review, the Committee recommended that the retail price of Mogas be decreased from Rs 61.20 per litre to Rs 58.45 per litre and the retail price of Gas Oil be maintained at Rs 58.95 per litre, in line with Regulation 5 of the above-mentioned Regulations.

The Committee also took note of the evolution of world prices of Mogas and Gas Oil, and also considered the estimated deficit of Rs 2.5 billion in the Price Stabilisation Account (PSA) of Gas Oil.

Mogas – The Retail Price of Mogas has been calculated using the actual prices for August to October 2025 and the future prices for November 2025 to January 2026. The new Reference Price of US$681.72 per metric ton and an exchange rate of Rs 46.4279/US$ results in a decrease in retail price of Rs 2.7500 per litre, that is a decrease of 4.49%. As the decrease in the calculated retail price of Mogas is greater than 4%, the retail price is therefore decreased from Rs 61.20 per litre to Rs 58.45 per litre.

Gas Oil – The Retail Price of Gas Oil has been calculated using the actual prices for August to October 2025 and the future prices for November 2025 to January 2026. The new Reference Price of US$ 87.15 per barrel and an exchange rate of Rs 46.4279/US$ results in a decrease in retail price. However, since the PSA of Gas Oil is in deficit by about Rs 2.5 billion and Regulation 5 (2) stipulates that “subject that there are funds in the PSA, the retail price of a petroleum product shall be decreased,” thus the retail price has been maintained at Rs 58.95 per litre.

The evolution of the funds in the PSA since December 2021 is shown below:

                                       

Details of Gain/(Loss) per tanker for the period 1 July 2024 to 30 September 2025 can be viewed on the following link: https://www.stcmu.com/assets/pdf/archives/pr/2025/GainOrLossOnTankers_010jul024to30sep2025.pdf. Recent gains on Gas Oil shipments are being used to offset past deficits. A Step-by-Step guide on how the price is calculated is also available at https://www.stcmu.com/assets/pdf/archives/pr/2025/PriceCalculationsStepByStepNov25.pdf.

The evolution of monthly average prices of Mogas and Gas Oil from 01 January 2025 to 31 October 2025 is shown in the graphs below:

                      Graph 1 - Mogas

                                                   

                        Graph 2 - Gas Oil

                                                    

 

The new Retail Prices are effective as from 00.00 hour on Tuesday 4th November 2025. Based on the new Reference Prices and changes in the Price Structures, the retail prices of Mogas and Gas Oil are Rs58.45 and Rs58.95 per litre respectively as shown hereunder:

                         

Mogas

Gas Oil

Reference Price - US$ per Metric Ton

681.7200

 -

Reference Price - US$ per barrel

-

87.1500

CIF - US$/litre

0.5485

0.5852

Exchange rate – Rs/US$

46.4279

46.4279

 

                     Rupees per litre

CIF

25.4657

27.1696

Excise duty

9.8700

4.2200

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

0.0500

0.0500

Contribution to Subsidy on LPG, Flour and Rice

7.2000

7.2000

STC’s Operational Expenses

0.3500

0.4000

Fund to Price Stabilisation Account

0.0404

4.8813

TRANSFER PRICE TO OIL COMPANIES

45.2361

46.0809

Oil Companies’ Operational Expenses and Wholesale Margin

2.5900

2.180

VAT (15%)

7.6239

7.6891

WHOLESALE PRICE

55.4500

55.9500

Retail Margin

3.0000

3.0000

RETAIL PRICE (Price at Petrol Service Station)

58.4500

58.9500

 

3 November 2025