Oil Prices Surge, Possible 10% Increase Looms

The Petroleum Pricing Committee is set to convene this Friday amid rising oil prices, which have reached over $90 per barrel, marking a ten-month high. This development, it is feared, could potentially impact the Mauritian market.

This factor will be a focal point in the upcoming PPC meeting. Currently, a litre of petrol at the pump in Mauritius costs Rs 69, while diesel is priced at Rs 54.55.

Given the turbulence in oil prices, experts and economists anticipate a potential 10% increase.

To entertain the possibility of price reductions, the Price Stabilisation Account must exceed Rs 600 million for petrol, and Rs 900 million for diesel.

Source: Defi Media