Venezuelan Oil in the United States: Uncertain Impact for Mauritius, STC Monitoring the Situation

The announcement sent shockwaves through global oil markets. According to Donald Trump, Venezuela is set to ship between 30 and 50 million barrels of oil to the United States. This declaration immediately caused a drop in crude prices on international markets. But beyond the numbers, one question arises: will Mauritian motorists feel the effects?

At the State Trading Corporation (STC), the situation is being closely monitored. However, the evolution of fuel prices in Mauritius depends on several specific mechanisms: fixed-price supply contracts, the Platts reference price, and the Price Stabilisation Account. These factors cushion, or even delay, the impact of international fluctuations on pump prices.

In Mauritius, a key element comes into play: the ongoing contract with OQ Trading, based in Oman, for the supply of so-called "premium" fuels. This contract sets a cost per shipment, including transport, logistics, and unloading. "As long as these conditions remain unchanged, variations in international prices have no immediate effect on pump prices," emphasizes a source at the STC.

Eyes are fixed on Trump.

However, a sustained drop in the Platts reference price could influence local prices, provided it exceeds the 4% threshold needed to trigger an adjustment, sources say. In the short term, no massive influx of oil into the global market is anticipated.

For Mauritian consumers, any decrease in prices remains hypothetical for now. The upcoming decisions from the American president will be watched very closely.