Fuel Prices Cabo Verde

From energypedia

Part of: GIZ International Fuel Price database

Fuel Pricing Policies

Local Currency: CVE
Exchange Rate: 81.701

Last Update:

The „Agência de Regulação Económica“ (ARE) is in charge of setting maximum fuel prices in Cape Verde. These maximum prices a revised several times a year, usually bi-monthly. Maximum prices are homogenous across the country. Only SHELL and ENACOL are taking part in the petrol market (→App. A2). Those companies are liberal in setting their prices, however having the regulated maximum prices as an upper bound.

Prices include a considerable VAT for gasoline (45% of import price), while there is only 18% VAT on import price for diesel. Also, a small road maintenance fee is included in both prices, see above.

On their website, ARE publishes a lot of information about fuel prices and fuel pricing, including a document explaining the pricing formula for petroleum products (→Appendix A1). The document states, that costs for storage, shipping and handling/logistics are estimated using 2007/2008 balance sheets of oil companies that are operating in Cape Verde (→Appendix A2). “Additional Costs” also include some duty for recovering the deficit that accumulated in 2007 and 2008. (Seemingly, fuels were subsidized at that time.)

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 2009/01/21.

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  • VAT for Diesel is only 18% (equals ~18 US Cents)
  • “Other Taxes” seem to be constantly at 7 CVE; includes a road maintenance fee
  • “Total Costs and Margins” include those of wholesalers and of retailers (no further information available)

At a Glance

Transparency of
Price Composition
Transparency of Pricing
Mechanism / Monitoring
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Sources to the Public

Type of Information Web-Link / Source
Other Information http://www.are.cv/index.php?option=com_content&task=view&id=76&Itemid=90
Price Composition http://www.are.cv/index.php?option=com_docman&task=cat_view&gid=41&Itemid=99999999 (A3)
Pricing Mechanism http://www.are.cv/index.php?option=com_content&task=view&id=35&Itemid=49
Pump prices and margins http://www.are.cv/index.php?option=com_content&task=view&id=96&Itemid=90


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