Is the petrol price regulated in South Africa?

SAPIA – South African Petroleum Industry Association > Overview > Fuel price. The petrol retail price is regulated by government, and changed every month on the first Wednesday of the month. The calculation of the new price is done by the Central Energy Fund (CEF) on behalf of the Department of Energy (DOE).

Is fuel regulated in South Africa?

Petrol and diesel are the major liquid fuels that are used in South Africa. Government regulates wholesale margins and controls the retail price of petrol. South African petroleum prices are regulated, based on import parity price formulas.

Is petrol price regulated?

The government influences retail fuel prices by setting maximum prices for petroleum products, which are revised regulary. The purpose of this form of price control is to protect consumers from sudden upward price fluctuations or unreasonably high market prices.

How is fuel price determined in South Africa?

The Basic Fuel Price (BFP) is based on the import parity pricing principle i.e. what is would cost a South African importer of petrol to buy the petrol from an international refinery, transport the product from that refinery, insure the product against losses at sea and land the product on South African shores.

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Who controls the petrol price?

The petrol prices are structured by the excise duty + VAT.

While the excise duty is collected by the central government, the VAT goes to the state government’s revenue. Central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel.

What is the best petrol to use in South Africa?

Engen is the most popular petrol brand when it comes to customer service, according to a newly released survey. Caltex came in below industry standard. Sasol has the lowest rate of customer complaints, and the highest rate when it comes to resolving problems.

Which countries does South Africa trade with the most?

South Africa’s top trading partners are China, Germany, the United States, the UK, India and Japan. South Africa is the EU’s largest trading partner in Africa.

Which country has lowest petrol price?

Petrol prices in USD, EURO and INR

Rank Country Gasoline/Petrol Prices per liter
USD ($)
1 Venezuela 0.02
2 Iran 0.07
3 Angola 0.25

How do petrol prices work?

Petrol prices explained

Since fuel duty is charged at a fixed price per litre, the lower the cost of fuel per litre, the smaller percentage of profit for the retailer and supplier. So, if petrol cost 80 pence per litre, duty and VAT would represent 89% of the cost with less than 9 pence (11%) going to the retailer.

How much is the fuel levy in South Africa?

18 a litre, the RAF Levy represents around 13% on every litre of fuel sold. Combined the GFL and RAF levies total R6. 11 (for both inland and coastal prices), a 27 cents a litre – or 4.64% – increase from 2020.

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How is petrol cost per km in South Africa?

To estimate the fuel cost for a trip you need the trip distance, cost of fuel per litre, and the vehicle’s average fuel consumption. In other words: Divide the total distance (km) by 100. Now multiply the answer by the average fuel consumption, and then multiply this number by the price of fuel (per litre).

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