Fuel prices hit multi-year lows in Seychelles |15 May 2025

In Seychelles, the fall in fuel prices over recent months has brought relief to consumers

Fuel prices hit multi-year lows in Seychelles

• Global trade war and supply surge push prices down

Global oil markets have been rocked by a continuous fall in prices, marking the gradual decline since mid-2022. In recent months, the fall has increased by a combination of escalating trade tensions between the world’s two largest economies, the USA and China, and a surprise increase in global oil production.

“The benchmark Brent crude price dipped to as low as US $60.23 per barrel in early May before slightly recovering to around US $65 per barrel,” Seypec’s director commercial, Xerxes Pardiwalla, told Seychelles NATION. “This decline reflects the growing concerns over a potential global economic slowdown and a substantial rise in production by the OPEC+ alliance, led by Saudi Arabia and Russia.”

For Seychelles, this downturn has brought relief to users. The Seychelles Petroleum Company (Seypec) has continued its policy of adjusting fuel prices in line with international market trends. Last week gasoil price was reduced to R19.69 the lowest since June 2023 when it was at R19.69 and on Monday this week, Mogas price was fixed at R19.59, its lowest since September 2021 when it stood at R19.81.

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