State Trading Corporation launches booklet on petroleum pricing

After four month steady for petroleum products price it’s has been increased.

Earlier, the prices were reviewed every month by the Automatic Pricing Mechanism (APM), now it’s replaced by Petroleum Pricing Committee (PPC).

For the last four months, the price of heavy oil and petroleum products such as diesel and gasoline has gone up as an answer to the growing demand.

Following the new method to settle on prices of imported petroleum products, the State Trading Corporation (STC) has come out with an information brochure to inform the public in all transparency about the price of petrol and diesel and the impact on the local market.

Commenting on the replacement of the APM, a spokesperson from the STC said, “Several weaknesses were observed with the APM and the public could not understand how the change in prices on the world market was reflected in the price changes made by the APM every month. This created some confusion.”

The new publication also provides a better understanding of the new mechanism put in place with the aim of mitigating the effects of fluctuations in world prices.

The booklet also provides information on the purchase of petroleum products and its shipment to Mauritius. It also explains the complexity behind the decision to determine the prices.