Mauritius is bracing for a potential increase in fuel prices, according to Minister of Commerce and Consumer Protection, Michael Sik Yuen. He made the statement during a ceremony at the Sir Seewoosagur Ramgoolam monument in Port-Louis. The minister cited global fuel price trends, noting that some countries have seen prices surge to around three euros per liter, equivalent to approximately Rs 165. In contrast, fuel prices in Mauritius are currently around Rs 70 per liter.
The current fuel prices in Mauritius are Rs 70.65 per liter for gasoline and Rs 71.25 per liter for diesel. These prices were last revised in April and August. The Petroleum Pricing Committee increased fuel prices on April 15, with gasoline rising from Rs 58.45 to Rs 64.25 per liter and diesel from Rs 64.80 to Rs 71.25 per liter. Another revision on August 15 saw gasoline prices increase to Rs 70.65 per liter, while diesel prices remained unchanged.
Minister Sik Yuen attributed the potential price hike to the losses incurred by the State Trading Corporation (STC) due to the current pricing structure. He emphasized that Mauritians should be prepared for a possible adjustment in fuel prices at any moment. The minister's statement comes amid rising global fuel prices, which have been affected by various factors, including the ongoing conflict in Ukraine.
In addition to fuel prices, Minister Sik Yuen addressed the issue of rationed rice supplies in Mauritius. He acknowledged that the current shipment has faced problems due to the conflict, which has disrupted shipping arrangements. However, the minister assured that alternative shipments are being arranged, with two or three cargoes expected to arrive in the coming days.
The minister expressed confidence that the rice supply issue will be resolved within two weeks. He emphasized that the situation is being closely monitored, and efforts are being made to restore normal supplies. The current shortage has caused concerns among consumers, but the minister's assurance is expected to alleviate some of the anxiety.
The potential fuel price hike and rice supply issues are significant concerns for Mauritians, as they may impact the cost of living and household budgets. The government has been working to mitigate the effects of global price trends on the local economy. Minister Sik Yuen's statements have provided some clarity on the situation, but consumers remain cautious about the potential implications.
The government will continue to monitor the situation and take necessary measures to minimize the impact on consumers. The minister's statements have highlighted the need for vigilance and preparedness in the face of global economic trends. As the situation continues to evolve, Mauritians will be watching closely for further updates and announcements from the government.
Key points
- Mauritius may see fuel price increase soon, says Minister Michael Sik Yuen
- Rice supply issues in Mauritius expected to be resolved within two weeks
- Current fuel prices in Mauritius are Rs 70.65 per liter for gasoline and Rs 71.25 per liter for diesel
