26 Nov 2010
Product
Petrol (ALL GRADES): 13.000 cents per litre increase in retail price
Diesel 0.05% Sulphur: 14.000 cents per litre increase in wholesale price
Diesel 0.005% Sulphur: 15.000 cents per litre increase in wholesale price
Illuminating Paraffin (Wholesale): 14.000 cents per litre increase in wholesale price
Illuminating Paraffin (SMNRP): 19.000 c/l increase in the Single Maximum National Retail price (SMNRP)
Maximum Retail Price for LPGAS: 17.000 cents per kilogram increase in the maximum retail price
Economic factors affecting the unit over/under-recoveries for the period 29 October 2010 to 25 November 2010
During the period under review, the average international product prices of petrol, diesel and illuminating paraffin increased.
The average Rand/US Dollar exchange rate weakened when compared to the previous period. The average Rand/US Dollar exchange rate for the period 29 October 2010 to 25 November 2010 was 6.9767 compared to 6.9374 during the previous period.
Single Maximum National Retail Price For Illuminating Paraffin (SMNRP)
The Single Maximum National Retail Price for Illuminating Paraffin changes on a monthly basis and is promulgated in the Government Gazette. The Single Maximum National Retail Price for the period 1 December 2010 to 4 January 2011 will be 716.0c/l compared to 697.0c/l for the period 3 November 2010 to 30 November 2010 that is an increase of 19.00c/l.
Maximum LPGAS refinery gate price
The maximum refinery gate price will be R5 538.71 per metric ton (307.39 c/l), excluding VAT, for the period 1 December 2010 to 4 January 2011.
Price adjustment
In terms of the agreed mechanism:
- Price changes are adjusted in such a manner that the over- or under-recovery during the prior month will be corrected in the following month; and
- The unit over- or under-recoveries are rounded up or down to the nearest full cent so that the effect of rounding contributes to the clearing of the cumulative balance of the individual products on the slate.
- In order to manage a negative balance in the Cumulative over/(under) recovery account (theSlate), a Self-Adjusting Slate Levy Mechanism (SLM) was implemented with effect from 7 January 2009 (the SLM is available on the website of the Department of Minerals and Energy). A Slate levy will only be applicable on all petrol and diesel grades if the Slate balance is negative (cumulative under recovery) by more than R250.0 million.
Breakdown of price adjustment
The price adjustments in (1) above are based on the following actual data:
| Petrol 95 ULP | Diesel 0.05 (%) | Diesel 0.005(%) | Illuminating Paraffin | LPGAS (Gauteng, Zone 9C) | |
| The price adjustments in (1) above are based on the following actual data: | |||||
| Average product over/(under)-recovery, measured for the 25 days from 29/10/2010 to25/11/2010 (cents / litre) as detailed below. | (13.435) | (14.826) | (15.349) | (13.916) | |
| Cumulative positive/(negative) slate balances end of August 2010 (R-million) | 699.006 | 208.432 | 208.432 | (105.426) | |
| The price adjustments consist of the following elements | c/ | c/l | c/l | c/l | |
| Average product over/(under)-recovery rounded to the nearest full cent for price (increase) / decrease | (13.000) | (14.000) | (15.000) | (14.000) | |
| LPGas BFP, Retail and VAT (increase)/decrease | (17.000) | ||||
| Total price (increase) / decrease | (13.000) | (14.000) | (15.000) | (14.000) | (17.000) |
The report of the independent auditors is available on request.
Analysis of the elements that resulted in the BFP over/(under)-recoveries
The over/(under)-recoveries for the period under review wereaffected by the factors set out below, which can be quantified as follows:
| Petrol c/l | Diesel 0.05 (%) | Diesel 0.005(%) | Illuminating Paraffin c/l | |
| Govement in international product prices | (11.034) | (12.291) | (12.788) | (11.403) |
| Movement in exchange rate | (2.400) | (2.534) | (2.561) | (2.513) |
| BFP Over/(under)-recovery for the period 27/08/2010 to 30/09/2010 | (13.435) | (14.826) | (15.349) | (13.916) |
Composition of the maximum retail prices for LPGAS at the coast (ZONE 1A) and in the inland area (ZONE 9C) in cents per kilogram
| CoastZone 1A | Inland Zone 9C | |
| Price element | 553.871 | 553.871 |
| Maximum refinery gate price | 37.120 | 175.960 |
| Primary transport costs | 343.000 | 343.000 |
| Operating expenses | 343.000 | 343.000 |
| Working capital | 26.000 | 26.000 |
| Depreciation | 126.000 | 126.000 |
| Gross margin: Cylinder-filling plant | 161.000 | 161.000 |
| Sub-total (1) | 1 246.991 | 1 385.831 |
| Retail Margin: (15% of Subtotal (1)) | 187.049 | 207.875 |
| Sub-total (2) | 1 434.040 | 1 593.706 |
| Value Added Tax (14% Sub-total (2)) MaximumRetailPrice(Roundedtofullcents) | 200.766 1 635.000 | 223.119 1 817.000 |
Annexure
The annexure attached contains details of the composition of product prices as well as history of the price changes.
Annexure 1
Composition of the retail price of petrol and the wholesale prices for diesel and IP in Gauteng for the period 01/12/2010 to 04/01/2011 will be as follows:
| Petrol 95 ULP c/l | Petrol 93 ULP & LRP c/l | Diesel 0.05% S c/l | Diesel 0.005% S c/l | Illuminating Paraffin c/l | |
| Wholesale margin | 51.087 | 50.868 | 50.860 | 50.860 | 51.072 |
| Service cost recoveries | 10.800 | 10.800 | 10.800 | 10.800 | 18.200 |
| Storage, handling & delivery costs | 10.800 | 10.800 | 10.800 | 10.800 | 10.800 |
| Distribution cost | 0 | 0 | 0 | 0 | 7.400 |
| Dealers margin | 81.200 | 81.200 | 0 | 0 | 0 |
| Zone differential in Gauteng | 15.500 | 15.500 | 15.500 | 15.500 | 29.800 |
| IP Tracer levy | 0 | 0 | 0.010 | 0.010 | 0 |
| Fuel levy | 167.500 | 167.500 | 152.500 | 152.500 | 0 |
| Customs & excise duty | 4.000 | 4.000 | 4.000 | 4.000 0 |
|
| RAF levy | 72.000 | 72.000 | 72.000 | 72.000 | 0 |
| Petroleum Products levy | 0.150 | 0.150 | 0.150 | 0.150 | 0 |
| Slate levy | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| DSML | 10.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| Equalisation Fund Levy | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| Incremental Inland Transport Recovery levy | 3.000 | 3.000 | 3.000 | 3.000 |
|
| Pump Rounding | 0.200 | 0.200 |
|
|
|
| Sub-total | 415.437 | 405.218 | 308.820 | 308.820 | 99.072 |
| Contribution to the Basic Fuel Price | 429.563 | 423.782 | 451.630 | 457.030 | 449.128 |
| Retail Price | 845.00 | 829.00 |
|
|
|
| Wholesale price |
|
| 760.45 | 765.85 | 548.20 |
Statistics of price change
|
| Petrol 95 ULP | Diesel | Illuminating Paraffin | LPGAS | ||||
| Effective from: | Gauteng SA c/l | Coast SA c/l | Gauteng SA c/l | Coast SA c/l | Gauteng SA c/l | Coast SA c/l | Gauteng SA c/kg | Coast SA c/kg |
|
|
|
| From 4 January 2006 0,05% Sulphur |
|
|
|
| |
| 03-Dec-08 | 735.00 | 711.00 | 822.30 | 808.50 | 628.00 | 604.10 |
|
|
| 07-Jan-09 | 601.00 | 576.00 | 654.35 | 639.65 | 496.70 | 467.60 |
|
|
| 04-Feb-09 | 662.00 | 637.00 | 649.35 | 634.65 | 482.70 | 453.60 |
|
|
| 04-Mar-09 | 707.00 | 682.00 | 611.35 | 596.65 | 456.70 | 427.60 |
|
|
| 01-Apr-09 | 738.00 | 713.00 | 650.85 | 636.15 | 451.70 | 422.60 |
|
|
| 06-May-09 | 735.00 | 710.00 | 658.85 | 644.15 | 464.70 | 435.60 |
|
|
| 03-Jun-09 | 750.00 | 727.00 | 645.95 | 632.65 | 455.70 | 426.60 |
|
|
| 01-Jul-09 | 790.00 | 767.00 | 685.95 | 672.65 | 501.70 | 472.60 |
|
|
| 05-Aug-09 | 769.00 | 746.00 | 665.95 | 652.65 | 487.70 | 458.60 |
|
|
| 02-Sep-09 | 805.00 | 782.00 | 700.95 | 687.65 | 508.70 | 479.60 |
|
|
| 07-Oct-09 | 765.00 | 742.00 | 668.45 | 655.15 | 481.20 | 452.10 |
|
|
| 04-Nov-09 | 765.00 | 742.00 | 678.45 | 665.15 | 495.20 | 466.10 |
|
|
| 02-Dec-09 | 792.00 | 769.00 | 703.45 | 690.15 | 524.20 | 495.10 |
|
|
| 06-Jan-10 | 786.00 | 763.00 | 689.45 | 676.15 | 512.20 | 483.10 |
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|
| 03-Feb-10 | 804.00 | 781.00 | 699.45 | 686.15 | 517.20 | 488.10 |
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|
| 03-Mar-10 | 810.00 | 787.00 | 703.45 | 690.15 | 515.20 | 486.10 |
|
|
| 07-Apr-10 | 858.00 | 835.00 | 751.95 | 738.65 | 536.20 | 507.10 |
|
|
| 05-May-10 | 872.00 | 848.00 | 781.45 | 767.65 | 566.20 | 538.10 |
|
|
| 02-Jun-10 | 845.00 | 821.00 | 766.45 | 752.65 | 553.20 | 525.10 |
|
|
| 14-Jul-10 | 827.00 | 803.00 | 751.45 | 737.65 | 541.20 | 513.10 | 1 727.00 | 1 569.00 |
| 04-Aug-10 | 817.00 | 793.00 | 738.45 | 724.65 | 526.20 | 498.10 | 1 801.00 | 1 619.00 |
| 01-Sep-10 | 807.00 | 783.00 | 738.45 | 724.65 | 521.20 | 493.10 | 1 775.00 | 1 593.00 |
| 06-Oct-10 | 812.00 | 788.00 | 735.45 | 721.65 | 520.20 | 492.10 | 1 768.00 | 1 586.00 |
| 03-Nov-10 | 832.00 | 808.00 | 746.45 | 732.65 | 534.20 | 506.10 | 1 800.00 | 1 618.00 |
| 01-Dec-10 | 845.00 | 821.00 | 760.45 | 746.65 | 548.20 | 520.10 | 1 817.00 | 1 635.00 |
Issued by: Department of Energy
26 Nov 2010
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