Decision on Petrol Prices Expected “At Any Moment,” Says Commerce Minister

A decision regarding national fuel prices could be announced “at any moment,” according to the Minister of Commerce, Michael Sik Yuen.

Speaking on RadioPlus this Thursday, 2 April, the Minister indicated that while a shift in pricing is imminent, he remained cautious over the specific timing, declining to confirm whether the Council of Ministers would formally rule on the matter during Friday’s session, 3 April.

Price Stability Amid International Pressure

Despite volatile international market conditions, the Minister noted that an increase in petrol prices would have been “justified” under current global trends.

However, the Government has moved to protect consumers for the time being, electing to maintain the existing retail rate at Rs 58.45 per litre.

Supply Stocks and Strategic Reserves

Addressing concerns over national energy security, Mr Sik Yuen provided reassurances regarding the country’s current and incoming supplies:

• Petroleum: a fresh shipment of fuel is scheduled to arrive in Mauritius this Saturday, 4 April.
• Heavy Oil: a significant cargo of 33,000 tonnes reached port yesterday.
• Liquefied Petroleum Gas (LPG): the Minister confirmed that the nation currently holds a 62-day strategic reserve of domestic gas.

While the government maintains its cautious stance, the Minister’s remarks suggest that the current price freeze remains under constant review as officials monitor the global landscape.

Source: Defi Media