The Barrel Fell Below $ 100, When Lower Prices in Mauritius?

For the first time in 2012, the Brent price rose during the past week under the symbolic $ 100, to 99.85 dollars, its lowest level since the beginning of October 2011. It must be said that since March, a barrel of oil has lost more than 21% of its value. A decrease which is attributed "to the economic crisis in the euro area, the decline in exports from China and the slowdown in consumption in India," says one observer.

"It's ridiculous that the Petroleum Pricing Committee (PPC) remains unmoved while oil prices plummet in recent months. There must be a substantial drop even more than those at the bottom can barely make ends meet, "insists Suttyhudeo Tengur, president of the Association for the Protection of the Environment and Consumers (APEC).

Jayen Chellum, general secretary of the Consumers' Association of Mauritius (Asim), also did not mince his words. "This is unacceptable and abnormal that the State Trading Corporation (STC) is not playing the game there should be adjustments especially since the STC made profits of Rs 1.8 billion," protested he said. "Since March 2011, we ended up with a maximum price of gasoline and diesel while with the former mechanism, the price had dropped to Rs 30 - Rs 33 per liter. The public expects that prices are falling, especially as the economic situation is difficult, "adds Bhanoo Seegobin, president of the Petrol Retailers Association.

However, an accurate observer in the area, if the Petroleum Pricing Committee has not seen fit to change the price of fuel for almost 15 months is because the increases as declines were mitigated by the stabilization fund that 'PPC operates. "The stabilization fund - which currently has a sum of Rs 56.8 million - has not change prices every month as in the past. So when prices declined, any surplus was paid into this fund. Thus, the population has not been required to pay more when prices have risen since that fund covered the deficit. But for over a year, we recorded steady increases in oil prices.

Yet we heard no voice was raised, "says our interlocutor. Moreover, he argues, the STC "do not realize profits or losses on gasoline and diesel, as prices are controlled." "The STC - which imported 1.147 million tons of oil products in 2011 - that makes a profit on the other five types of petroleum products it imports (oil, produced for aviation, ...). The profits made it possible to subsidize the price of rice, flour and Gas Appliances. "

Can we expect a possible drop in fuel prices? All indications are that this is unlikely. "Maurice does not buy oil every day. A shipment of petroleum products is shipped every 22 days. As a result, declines noted that in recent days have no effect on shipments that are being landed now, "said a source.

Changes in the price of gasoline and diesel

DATE Petrol Rs / Liter Diesel Rs / Liter

06-Apr-12 49.30 41.20

02-Mar-1249.30 41.20

03-Feb-12 49.30 41.20

27-Dec-11 49.30 41.20

29-Mar-11 49.30 41.20

14-Mar-11 51.30 43.50

22-Jan-11 48.50 39.90