The Petroleum Pricing Committee (PPC) met on Wednesday, 15 April 2026 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 prices of both Mogas and Gas Oil be increased from Rs 58.45 per litre to Rs 64.25 per litre and from Rs 64.80 per litre to Rs 71.25 per litre respectively, in line with Regulation 5 of the above Regulations.

The Committee also took note of the evolution of world prices of Mogas and Gas Oil and considered the estimated deficit of Rs 3.2 billion in the Price Stabilisation Account (PSA).

Mogas – The retail Price of Mogas has been calculated using the actual prices for January to March 2026 and the projected prices for April to June 2026. The new Reference Price of US$973.39 per metric ton and an exchange rate of Rs 46.7014/US$ results in an increase in the retail price of Rs 11.8610 per litre, that is an increase of 20.29%. As the increase in the calculated retail price of Mogas is more than 4% and the PSA balance for Mogas is negative, its retail price is increased by a maximum of 10%, from Rs 58.45 per litre to Rs 64.25 per litre in accordance with Regulation 5 (3).

Gas Oil – The retail Price of Gas Oil has been calculated using the actual prices for January to March 2026 and the projected prices for April to June 2026. The new Reference Price of US$ 186.61 per barrel and an exchange rate of Rs 46.7014/US$ results in an increase in the retail price of Rs 22.3195 per litre, that is an increase of 34.44%. As the increase in the calculated retail price of Gas Oil is more than 4% and the PSA balance for Gas Oil is negative, its retail price is increased by a maximum of 10%, from Rs 64.80 per litre to Rs 71.25 per litre in accordance with Regulation 5 (3).

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 15 April 2026 can be viewed on the following link: https://www.stcmu.com/assets/pdf/archives/pr/2026/GainOrLossOnTankers01July2024to15April2026.pdf. A step-by-step guide on how the price is calculated is also available at https://www.stcmu.com/assets/pdf/archives/pr/2026/PriceCalculationsStepByStep15Apr26.pdf.

The evolution of monthly average prices of Mogas and Gas Oil from March 2025 to April 2026 are shown in the graphs below:

                      Graph 1 - Mogas

                                                   

                        Graph 2 - Gas Oil

                                                    

 

The retail prices of Mogas (L’Essence) and Gas Oil are increased to Rs 64.25 and Rs 71.25 per litre respectively. The new Price Structures are as follows and the prices will be effective as from 00.00hr on 16 April 2026:

                         

Mogas

Gas Oil

Reference Price - US$ per Metric Ton

973.3900

 -

Reference Price - US$ per barrel

-

186.6100

CIF - US$/litre

0.7670

1.2108

Exchange rate – Rs/US$

46.7014

46.7014

 

                     Rupees per litre

CIF

35.8200

56.5461

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

Adjustment

(5.2704)

(13.7996)

TRANSFER PRICE TO OIL COMPANIES

50.2796

56.7765

Oil Companies’ Operational Expenses and Wholesale Margin

2.5900

2.1800

VAT (15%)

8.3804

9.2935

WHOLESALE PRICE

61.2500

68.2500

Retail Margin

3.0000

3.0000

RETAIL PRICE (Price at Petrol Service Station)

64.2500

71.2500

 

15 April 2026