The Petroleum Pricing Committee (PPC) met on Friday 11 April 2025 and after verification of the computation of the retail prices of Mogas and Gas Oil, as provided for under Regulation 8 of the Consumer Protection (Control of Price of Petroleum Products) Regulations 2011 (as amended), recommended that the retail prices of Mogas and Gas Oil be maintained at its present level as per Regulation 5 (1).:

The Committee also took note of the evolution of world prices of Mogas and Gas Oil and also considered the estimated deficit of Rs 3.1 billion in the Price Stabilisation Account (PSA) of Gas Oil.

Mogas (L’Essence) – Based on the new Reference Price of US$ 683.89 per metric ton for Mogas, that is, the actual prices for January to March 2025 and the future prices for April to June 2025 at an exchange rate of Rs 45.7984/US$, the new retail price works at Rs 59.71 per litre, that is a decrease of 2.44%, hence the retail price of Mogas is maintained at its current level in accordance with Regulation 5 (1).

Gas Oil (Diesel) – The Retail Price of Gas Oil has been calculated using the new Reference Price of US$ 83.30 per barrel, that is, the actual prices for January to March 2025 and the future prices for April to June 2025 and an exchange rate of Rs 45.7984/US$. Since the PSA of Gas Oil is in deficit by about Rs 3.1 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,” the retail price has been maintained at Rs 58.95 per litre.

The deficit in the PSA has evolved since December 2021 as hereunder:

                                       

It is to be highlighted that the above deficits pertain only to Mogas and Gas Oil and not to the other operations of STC. 

The evolution of the world prices of Mogas and Gas Oil from 1st December 2024 to 10th April 2025 is shown in the graphs below:

                      Graph 1 - Mogas

                                                   

                        Graph 2 - Gas Oil

                                                    

The retail prices of Mogas (L’Essence) and Gas Oil (Diesel) are maintained at Rs 61.20 per litre and Rs 58.95 per litre respectively. The new Price Structures are as follows:

                         

Mogas

Gas Oil

Reference Price - US$ per Metric Ton

683.8900

 -

Reference Price - US$ per barrel

-

83.3000

CIF - US$/litre

0.5860

0.5795

Exchange rate – Rs/US$

45.7984

45.7984

 

                     Rupees per litre

CIF

26.8379

26.5402

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 /(from) Price Stabilisation Account

1.2995

5.5107

TRANSFER PRICE TO OIL COMPANIES

47.8674

46.0809

Oil Companies’ Operational Expenses and Wholesale Margin

2.3500

2.1800

VAT (15%)

7.9826

7.6891

WHOLESALE PRICE

58.2000

55.9500

Retail Margin

3.0000

3.0000

RETAIL PRICE (Price at Petrol Service Station)

61.2000

58.9500

 

11 April 2025