Lowest gas and petrol prices since 1990 |20 January 2009
“From today the price of petrol at the pump has gone down from R17.50 in December or US $1 to R15, which is US $0.86, and the price of cooking gas has dropped from R21.50 to Rl5 per kilo,” said deputy chief executive Eddie Belle.
“The readjustment of the rupee recently gives the perception that the prices of petroleum products have increased enormously in recent years, but if one compares the prices using the currency that they are bought in, one finds the prices have actually decreased over the years,” he said.
He added that the new prices are for newly bought batches and will remain only as long as there are no major fluctuations in the US dollar and the rupee’s exchange rates. The Seychelles rupee readjusted itself against hard currencies in November when it was floated, raising prices of most items to unprecedented levels.
Mr Belle showed a table comparing Seychelles’ current price of petrol at the pump with those of many European and African countries, saying the rate here is among the lowest in the world except for those offered by countries like the US, South Africa, Thailand and Australia.
The price of petrol here now is €0.65 a litre, lower than in countries like Mauritius (€0.80), Singapore (€0.78), Lithuania (€0.76), Greece, Spain, Poland and Switzerland (€0.87), Madagascar (€1.03), UK(€ 1.04), France (€1.07), Denmark and Netherlands (both selling at €1.25) and Turkey (€1.47).
| Year | Pump Pricw in R per litre | Exchange rate R/USD | Pump Price in USD per litre |
| 2002(December) | 6.79 | 5.31 | 1.28 |
| 2003(December) | 7.85 | 5.50 | 1.43 |
| 2004(December) | 7.85 | 5.50 | 1.43 |
| 2005(December) | 7.85 | 5.60 | 1.40 |
| 2006(December) | 7.85 | 5.61 | 1.40 |
| 2007(December) | 12 | 8.02 | 1.50 |
|
2008(June) |
16 | 8 | 2.00 |
| 2008(December) | 17 | 21.50 | 1.00 |
| 2009 (January 19) | 15 | 21.50 | 0.86 |
Table showing the history of petrol prices in Seychelles since 2002
| PRICE INR PER KG | EXCHANGE RATES R TO USD | PRICE IN USD PER KG | |
| Jan-90 | 15.48 | 5.50 | 2.81 |
| Jan-95 | 10.40 | 5.50 | 1.89 |
| Jan-00 | 8.35 | 5.50 | 1.52 |
| Dec-05 | 7.00 | 5.6 | 1.25 |
| Dec-08 | 21.50 | 17.5 | 1.23 |
| Jan-09 | 15 | 17.5 | 0.86 |
Table showing the historical prices of LPG between 1990 and January 19, 2009