Mauritius’ state-run State Trading Corporation (STC) has, through its Petroleum Pricing Committee (PPC), raised the price of Mogas (gasoline) to Rs67.40 per litre – a yet another increase of 10%.
Gas oil (Diesel) has also been increased by 10% and will now be sold at Rs49.60 per litre.
The new retail price for both gasoline and diesel is effective as from 00.00 hr on Wednesday 20 April 2022.
The price hike adds to the increasingly heavy burden of Mauritians struggling through one of the the island nation’s worst financial crisis.
This is the third price hike of 10% in 4 months.
In a statement released on 19 April 2022, the PPC of the STC said it took note of the evolution of world prices of Mogas and Gas Oil, which have been continuously increasing since the past months.
“It has been noted that at the last PPC meeting of 26 February 2022, the retail price of Mogas (gasoline) should have been increased by Rs12.40 per litre or by 22.24% and that of Gas Oil (Diesel) should have increased by Rs17.05 per litre or 41.59% but the increases were limited to a maximum of 10%.”
The fuel price hike comes 24 hours after the STC increased the price of a 12kg LPG cylinder by Rs60 – from Rs180 to Rs240.
Mauritius, according to economists, is fighting a crisis triggered in part by a depreciation of the Rupee, which means it is paying more to import staples like food and fuel.
Since the beginning of the year, the Mauritius rupee has fallen by over 20% as cost of living skyrockets, while world prices of Mogas and Gas Oil, have been continuously increasing since the past months.
Last week, the Bank of Mauritius (Bank) has intervened on the domestic foreign exchange market for an amount of USD 200 million, equivalent to Rs 8.6 billion.
The fuel price hikes come as public agitation grows against the government – already plagued with numerous corruption scandals and claims of “incompetence when dealing with public funds.”