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 |
|
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