Government’s Fuel Price Reversal Branded as Political Theatrics Amid Criticism and Doubt

The decision by the government to reverse the increase in gasoline prices is seen by Ritesh Ramful, a member of the Labour Party, as mere “theatrics.”

Ramful shared his perspective during an episode of “Au Cœur de l’Info” on Radio Plus. “They are playing yoyo with the population”, he claimed.

He expressed skepticism regarding the government’s justification for raising fuel prices due to the deficit in the Price Stabilisation Account of the State Trading Corporation (STC), considering it an “unfounded justification.”

Ramful believes that the government has the ability to reduce gasoline prices at any time, as demonstrated in the last budgetary exercise.

Former minister Sangeet Fowdar expressed relief that the government had reconsidered its decision.

He believed that the government failed to anticipate the impact of the previous week’s fuel price hike on inflation.

Fowdar argued that this would have had a detrimental effect on the country’s economy.

Ramful also criticized certain elements of the fuel price structure, which he deemed unjustifiable.

He suggested that a Labour-MMM-PMSD government would review this price structure.

Additionally, he emphasized the need to engage directly with oil refinery companies instead of intermediaries, which could result in more favorable fuel prices.

Fowdar concurred, highlighting potential cost savings through direct dealings with refinery companies.

Source: Defi Media