The Basic Fuel Price (BFP) is based on the import parity pricing principle, or what it would cost an importer of gasoline from South Africa to purchase gasoline from a foreign refinery, transport the product from that refinery, insure the product against losses at sea, and land the product on South African shores.
NB: In order to determine BFPs, The Central Energy Fund (CEF) (Pty) Ltd was chosen by Cabinet in 1994. (prevent manipulation by any interested party)
For price-regulated fuels, daily and average monthly BFPs are computed by (CEF) in accordance with the Working Rules to administer the BFP.
Calculations for the monthly BFP, impending price adjustments, and monthly fuel price
Independent auditors selected by the DOE to audit the Media Statement
Elements of the BFP
Free-on-Board (FOB)-value
Freight and Average Freight Rate Asses
Insurance
Ocean loss
Demurrage
Cargo Dues
Coastal Storage
Stock Financing costs
The prices of regulated petroleum products are primarily determined by two factors:
The product’s dollar price on international markets multiplied by the US dollar exchange rate makes up the external components.
the rand-based retail and oil business marketing margins, transportation expenses, and taxes and levies are internal factors.
What factors determine diesel prices in South Africa?
international supply and demand balances for petroleum products, international crude oil prices, and the Rand/US Dollar exchange rate.
How much tax is applied to a litre of petrol in South Africa?
The general fuel levy is R3 per litre of sold petrol. 93 per liter (up from R3. 77 last year). R2 is the road accident fund levy.
How do you figure out the price of fuel per liter?
The formula is l/100km (liters/distance * 100). For instance: 8.98 liters per 100 kilometers are obtained by multiplying 57 liters per 635 kilometers by 100. If you know the cost of fuel, you may calculate your cost per 100 kilometers by simply multiplying the cost per liter by the outcome.
How can you figure out the price of gasoline per mile in South Africa?
The journey distance, fuel price per liter, and the average fuel consumption of the vehicle are required to calculate the cost of fuel for a trip. With those words: Subtract 100 from the total distance (km). Add the average fuel use to the result, then multiply that result by the price of fuel (per litre).
