Lifestyle | Your Money

December 12, 2013

Gas Commercial and Industrial: An Increase of 20% to 25% Imminent

The substantial increase in the price of liquefied petroleum gas in the international market is not without consequences for Mauritius. The advertised price worldwide for the month of December is the highest since 1994.

However, grants from the State of Mauritius cushion the blow on the gas cylinder for domestic use, the price will remain at Rs 330. By cons, we can expect an imminent increase of 20% to 25% for gas cylinders for commercial and industrial use. A decision should be announced before the end of this week.

These days, many Mauritians are struggling to get their hands on gas cylinders. Especially red and yellow. In media attention, it is argued that this would be an artificial shortage, or even a slowdown in the distribution level. This is explained by the fact that the price of LPG has skyrocketed on the world market and some traders expect higher prices at the local level. Currently, the cylinder 12 kilos equivalent to Rs 466 TCC. However, with the increase in the international price of 12 kg cylinder will cost Rs 676 to the State Trading Corporation.

With the game grants, households always pay Rs 330. Subsidies on LPG increased from Rs 611 million in 2011 to Rs 718 million in 2012, the amount of 599 million was planned for 2013. This sale price of Rs 330 per cylinder for domestic use should remain unchanged during the next two months. If the upward trend continues, an increase could be considered. By cons, in the immediate future, it is the users of commercial or industrial cylinders that will hand the wallet to pay between 20% and 25% more of the cylinder.

In Mauritius, the State Trading Corporation buys LPG according to global baseline Saudi CP (Saudi Aramco LPG Contract Price). The award is announced at the end of each month and take effect the following month. In December 2013 the Saudi CP has reached the highest level since 1994, with an increase to $ 310 per tonne.

Causing a rise in the price CIF to 1337 dollars at the time of delivery to Port-Louis. An increase of 30% compared to November 2013 and 39% compared to last October. Already at the international level, the price paid by consumers has been an increase of between 21% and 28%. Advanced to justify this increase in Saudi CP has reasons are lower volumes exported by the United States, Saudi Arabia and Kuwait and increased in Asian markets, particularly Thailand and Indonesia purchase.

 

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