Difference between revisions of "Fuel Prices South Africa"

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{{Fuel Price Factsheet
 
{{Fuel Price Factsheet
 
|Fuel Price Country=South Africa
 
|Fuel Price Country=South Africa
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|Fuel Pricing Policies="Pricing policy: Government regulates gasoline, kerosene, and diesel prices, and in addition LPG prices have been regulated since Jul 2010. Once a month, government announces basic fuel prices for gasoline, diesel, and kerosene; maximum LPG retail prices by location; maximum national retail price of illuminating kerosene; and maximum ex-refinery price of LPG. Basic fuel prices sum CIF, 0.3% ocean losses, cargo dues, coastal storage, and stock financing (currently for 25 days). To the basic fuel price are added customs and excise, specific fuel tax, road accident fund levy (gasoline and diesel), slate levy (gasoline, diesel, and kerosene), petroleum pipeline levy (gasoline and diesel), illuminating kerosene dye levy (diesel; the price difference between kerosene and diesel is about US$0.30/liter), demand-side management levy (gasoline), inland transport recovery levy (gasoline and diesel), wholesale and retail margins, and transport costs. The slate levy settles under- or over-recoveries by oil companies arising from differences between the basic fuel prices, which remain the same for one month at a time, and daily fluctuations in world oil prices. The pricing formula allows for a total of 3 days of demurrage. Monthly retail prices for diesel in the inland area and monthly average FOB benchmark prices relevant to South Africa since 2007 are shown below. The retail price tracks the world price movement closely, and is also markedly higher than the FOB price."
 +
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(Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.)
 
|Fuel Currency=ZAR
 
|Fuel Currency=ZAR
 
|Fuel Price Exchange Rate=7.00221
 
|Fuel Price Exchange Rate=7.00221
 
|Fuel Price Exchange Rate Date=2010/11/17
 
|Fuel Price Exchange Rate Date=2010/11/17
−
|Fuel Price Last Updated=
 
 
|Fuel Price Composition=GIZ_IFP2012_South Africa1.png
 
|Fuel Price Composition=GIZ_IFP2012_South Africa1.png
 
|Fuel Price Composition Fuel Type=Gasoline 95 Octane
 
|Fuel Price Composition Fuel Type=Gasoline 95 Octane
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|Fuel Price Composition Location=Guateng ("inland")
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|Fuel Price Composition Location=Gauteng ("inland")
 
|Fuel Price Composition Date=2010/11/03
 
|Fuel Price Composition Date=2010/11/03
 
|Fuel Price Composition Annotation=Source: http://www.energy.gov.za/files/esources/petroleum/petroleum_breakdown.html (inland, 95 octance petrol, unleaded)
 
|Fuel Price Composition Annotation=Source: http://www.energy.gov.za/files/esources/petroleum/petroleum_breakdown.html (inland, 95 octance petrol, unleaded)
  
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Retailers set their margins for diesel freely; in Nov. 2011 it was observed ~0.50 rand (~7 US-Cents) and thus being lower than the regulated retail margin for petrol (0.81 Rand or 12 US-Cents); all other values are very similar for Diesel, see source above.
+
*Retailers set their margins for diesel freely; in Nov. 2011 it was observed ~0.50 rand (~7 US-Cents) and thus being lower than the regulated retail margin for petrol (0.81 Rand or 12 US-Cents); all other values are very similar for Diesel, see source above.
−
 
+
*A “Slate Levy” exists, but was zero in November 2010 (see description under 3.)
−
A “Slate Levy” exists, but was zero in November 2010 (see description under 3.)
+
*An “Equalization Fund Levy” for equalising fuel prices exists, but is usually set to zero.
−
 
+
*All documents from the web distinguish between coastal prices (cheapest) and inland prices, varying through transportation costs from the coast (harbors/refineries) to regional depots. The price in the province of Guateng is used representatively for the “inland”-prices, being close to the average and also being the most populated and economically most important province of South Africa.
−
An “Equalization Fund Levy” for equalising fuel prices exists, but is usually set to zero.
+
*A constant “Demand Side Management Levy” of 0.1 Rand/litre only for 95 octane petrol is used to artificially promote the consumption of the 93 octane petrol, which is slightly cheaper to produce while exact production costs are not calculated separately.
−
 
 
−
All documents from the web distinguish between coastal prices (cheapest) and inland prices, varying through transportation costs from the coast (harbors/refineries) to regional depots. The price in the province of Guateng is used representatively for the “inland”-prices, being close to the average and also being the most populated and economically most important province of South Africa.
 
−
 
 
−
A constant “Demand Side Management Levy” of 0.1 Rand/litre only for 95 octane petrol is used to artificially promote the consumption of the 93 octane petrol, which is slightly cheaper to produce while exact production costs are not calculated separately.
 
 
|Fuel Price Composition 2=GIZ_IFP2012_South Africa2.png
 
|Fuel Price Composition 2=GIZ_IFP2012_South Africa2.png
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|Fuel Pricing Policies=The “Energy Department of South Africa” is a governmental institution in charge of regulating fuel prices. The “National Petroleum, Gas and Oil Corporation of South Africa” (PetroSA) is the national oil company, operating refineries and oil rigs.
+
|Fuel Matrix Pricing Mechanism=2
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Fuel prices are calculated based on elaborated formulas and methods.
 
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The Basic Fuel Price (BFP) is the refinery price for one litre of fuel, including the price for crude oil and any import, handling and (sea-)transportation costs.
 
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Inland transportation costs, wholesale margins and distribution costs are calculated taking into account the approximate, actual costs and also some limited commercial profit (between 10% and 20% on the depreciated book value of assets per year, calculated for a fictive, average company; if the actual value exceeds this intervall, margins are recalculated).
 
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Pump prices for petrol and wholesale prices for diesel are regulated – i.e. the retail margins for diesel are liberal (see 2.).
 
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Slate Levy / Slate Account: Since the BFP changes daily (because of the crude oil price and the US$ exchange rate), but fuel prices are regulated only monthly, differences arise. I.e. customers pay too much on some days or too less on other days each month. This price differences are multiplied by the approximate amount of fuel sold at that specific day and summed up over one month. This sum is then cleared with a consistent “Slate Account”. A Slate Levy is only imposed for the next month, if this Slate Account balance drops below zero (as of September 2010, the Slate Account balances are almost +900 Mio. Rand for Petrol and ~ +310 Mio Rand for Diesel).
 
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Several other levies are imposed, including a levy for the Road Accident Fund (RAF) of 0.72 Rand/litre (as of Nov.2010).
 
 
|Fuel Matrix Price Level=3
 
|Fuel Matrix Price Level=3
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|Fuel Matrix Pricing Mechanism=2
 
 
|Fuel Matrix Annotation=All information, including mechanisms, policies and actual prices, is presented very clearly, comprehensively, up-to-date and well-structured. Statistics of (observed) Diesel pump prices might be added.
 
|Fuel Matrix Annotation=All information, including mechanisms, policies and actual prices, is presented very clearly, comprehensively, up-to-date and well-structured. Statistics of (observed) Diesel pump prices might be added.
 
|Fuel Transparency Price Composition=3
 
|Fuel Transparency Price Composition=3
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|Fuel Price Factsheet Source Annotation=Price history, institutions, ...
 
|Fuel Price Factsheet Source Annotation=Price history, institutions, ...
 
}}
 
}}
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[[Category:South_Africa]]

Latest revision as of 12:59, 23 September 2014

Part of: GIZ International Fuel Price database
Also see: South Africa Energy Situation

Fuel Pricing Policies

Local Currency: ZAR
Exchange Rate: 7.00221


(2010/11/17)

Last Update:

"Pricing policy: Government regulates gasoline, kerosene, and diesel prices, and in addition LPG prices have been regulated since Jul 2010. Once a month, government announces basic fuel prices for gasoline, diesel, and kerosene; maximum LPG retail prices by location; maximum national retail price of illuminating kerosene; and maximum ex-refinery price of LPG. Basic fuel prices sum CIF, 0.3% ocean losses, cargo dues, coastal storage, and stock financing (currently for 25 days). To the basic fuel price are added customs and excise, specific fuel tax, road accident fund levy (gasoline and diesel), slate levy (gasoline, diesel, and kerosene), petroleum pipeline levy (gasoline and diesel), illuminating kerosene dye levy (diesel; the price difference between kerosene and diesel is about US$0.30/liter), demand-side management levy (gasoline), inland transport recovery levy (gasoline and diesel), wholesale and retail margins, and transport costs. The slate levy settles under- or over-recoveries by oil companies arising from differences between the basic fuel prices, which remain the same for one month at a time, and daily fluctuations in world oil prices. The pricing formula allows for a total of 3 days of demurrage. Monthly retail prices for diesel in the inland area and monthly average FOB benchmark prices relevant to South Africa since 2007 are shown below. The retail price tracks the world price movement closely, and is also markedly higher than the FOB price."

(Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.)

Fuel Prices and Trends

Gasoline 95 Octane Diesel
in USD*

in Local Currency

* benchmark lines: green=US price; grey=price in Spain; red=price of Crude Oil



Fuel Price Composition

Price composition for one litre of Gasoline 95 Octane as of 2010/11/03  in Gauteng ("inland").


GIZ IFP2012 South Africa1.png
GIZ IFP2012 South Africa2.png


Source: http://www.energy.gov.za/files/esources/petroleum/petroleum_breakdown.html (inland, 95 octance petrol, unleaded)

  • Retailers set their margins for diesel freely; in Nov. 2011 it was observed ~0.50 rand (~7 US-Cents) and thus being lower than the regulated retail margin for petrol (0.81 Rand or 12 US-Cents); all other values are very similar for Diesel, see source above.
  • A “Slate Levy” exists, but was zero in November 2010 (see description under 3.)
  • An “Equalization Fund Levy” for equalising fuel prices exists, but is usually set to zero.
  • All documents from the web distinguish between coastal prices (cheapest) and inland prices, varying through transportation costs from the coast (harbors/refineries) to regional depots. The price in the province of Guateng is used representatively for the “inland”-prices, being close to the average and also being the most populated and economically most important province of South Africa.
  • A constant “Demand Side Management Levy” of 0.1 Rand/litre only for 95 octane petrol is used to artificially promote the consumption of the 93 octane petrol, which is slightly cheaper to produce while exact production costs are not calculated separately.



At a Glance

Regulation-Price-Matrix
Transparency of
Price Composition 		Transparency of Pricing
Mechanism / Monitoring
IFPDB matrix background.png
IFPDB matrix point.png
 IFPDB trafficlight green.png IFPDB trafficlight explanation.png IFPDB trafficlight green.png


All information, including mechanisms, policies and actual prices, is presented very clearly, comprehensively, up-to-date and well-structured. Statistics of (observed) Diesel pump prices might be added.


Sources to the Public

Type of Information Web-Link / Source
Other Information http://www.energy.gov.za/files/petroleum_frame.html (Price history, institutions, ...)
Price Composition http://www.energy.gov.za/files/esources/petroleum/petroleum_breakdown.html
Pricing Mechanism http://www.energy.gov.za/files/esources/petroleum/petroleum_docs1.html
Pump prices and margins http://www.energy.gov.za/files/petroleum_frame.html (Under „Petrol Price Archive“ and „Latest Fuel Prices”. Pump prices for Diesel are not monitored.)
Wholesale Prices http://www.energy.gov.za/files/petroleum_frame.html (Under „Petrol Price Archive“ and „Latest Fuel Prices”. Pump prices for Diesel are not monitored.)


Contact

Please find more information on GIZ International Fuel Price Database and http://www.giz.de/fuelprices

This is a living document. If you have any comments or suggestions, please feel free to contact us: Armin.Wagner@giz.de

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