The Petroleum Pricing Committee (PPC) met on Friday 4 December 2020 and after verification of the computation of the retail prices of Mogas and Gas Oil, as provided for under Regulations 8 of the Consumer Protection (Control of Price of Petroleum Products) Regulations 2011 (as amended), approved that the retail prices be maintained at their present level as per Regulations 5(1)(b) &5(1)(a) as shown below:

 Product       

Retail Price
Rs / Litre

 Mogas

44.00

 Gas Oil

35.00


The Committee took note of the evolution of world prices of Mogas and Gas Oil and the status of the Price Stabilisation Account.

Mogas (L’essence): Based on the Reference Price of US$400.25/metric ton for Mogas and an exchange rate of Rs40.40/US$, the retail price of Mogas should have increased by 52 cents per litre or by 1.18%. However, as provided under Regulations 5(1)(b) the retail price of Mogas has been maintained at its current level i.e at MUR 44.00/litre, as the increase in less than 4%.

Gas Oil (Diesel): Using the Reference Price of US$48.30/barrel and an exchange rate of Rs40.40/US$, the retail price of Gas Oil has remained unchanged according to Paragraph 5(1)(a) of the Regulations since the percentage decrease is 0.14%, i.e. below 4%.


Based on the new Reference Prices, the retail prices of Mogas and Gas Oil remain unchanged at Rs44.00/Litre and Rs35.00/Litre respectively as shown below:

                         

Mogas

Gas Oil

Reference Price  - US$ per metric ton

400.2500

 -

Reference Price  - US$ per barrel

-

48.3000

CIF - US$/litre

0.3374

0.3263

Exchange rate – Rs/US$

40.4000

40.4000

 

                   Rupees per litre

CIF

13.6310

13.1825

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

4.2000

4.2000

Contribution to the COVID-19 Solidarity Fund

1.0000

1.0000

STC's Operational Expenses

0.3500

0.4000

Adjustment

(0.4501)

0.0423

TRANSFER PRICE TO OIL COMPANIES

33.8409

26.1848

Oil Companies’ operational expenses and wholesale margin

2.3500

2.1800

VAT (15%)

5.7391

4.5652

WHOLESALE PRICE

41.9300

32.9300

Retail margin

2.0700

2.0700

RETAIL PRICE (Price at Petrol Service Station)

44.0000

35.0000

4 December 2020