30 March 2007
1. Adjustment to the fuel price: Wednesday, 4 April 2007
With effect from 00h01, Wednesday, 4 April 2007, the price of fuel will be
adjusted as follows in Gauteng (Zone 9C) and at the Coast (Zone (Zone 1A). The
fuel price increase in other zones could be higher due to increases in
transport costs (refer paragraph 5 below).
Product:
* Petrol 96 ULP - 69.000 cents per litre increase in retail price
* Petrol 93 ULP & LRP - 69.000 cents per litre increase in retail
price
* Petrol 95 ULP & LRP - 68.000 cents per litre increase in retail
price
* Diesel 0.05% Sulphur - 38.000 cents per litre increase in wholesale
price
* Diesel 0.005% Sulphur - 37.000 cents per litre increase in wholesale
price
* Illuminating Paraffin - 30.900 cents per litre increase in wholesale
price
* Illuminating Paraffin - 41.000 c/l increase in the Single Maximum National
Retail Price (SMNRP)
2. Economic factors affecting the unit over/under-recoveries for the period
2 March 2007 to 29 March 2007
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 2
March 2007 to 29 March 2007 was 7.3841 compared to 7.1956 during the previous
period.
3. Single Maximum National Retail Price for Illuminating Paraffin
The Minister of Minerals and Energy has approved the implementation of a
Single Maximum National Retail Price for Illuminating Paraffin with effect from
2 April 2003. The Single Maximum National Retail Price for Illuminating
Paraffin will change on a monthly basis from the first Wednesday of each month
and will also be promulgated in the Government Gazette. The Single Maximum
National Retail Price with effect from 4 April 2007 to 1 May 2007 will be 602,0
c/l compared to 561,0 c/l from 7 March 2007 to 3 April 2007, that is an
increase of 41,0 c/l.
4. Increase in the Fuel Tax and Road Accident Fund Levy on Petrol and
Diesel
The Minister of Finance, in his Budget Speech on 23 February 2007, announced
an increase of 5,0 c/l in Fuel Tax and a 5,0 c/l increase in the Road Accident
Fund levy applicable on petrol and diesel with effect from 4 April 2007.
5. Transport Tariff Increases
The Minister of Minerals and Energy has approved the following transport
tariffs and wharfage increases to be implemented into the fuel structure with
effect from 4 April 2007, namely:
(a) Rail transport tariffs: 4,04 percent. Retail transport tariff increases
will range from 0,1 c/l to 1,5 c/l.
(b) Road transport tariff increases are based on the actual transport tariffs
over the last twelve months. These increases will range from 0,3 c/l to 3,4
c/l.
(c) Cargo dues (wharfage): 4,05 percent or 0,088 c/l.
The new rail and road transport tariffs per fuel pricing zone applicable from 4
April 2007 are available on the website of the Department of Minerals and
Energy (http://www.dme.gov.za/)
6. Liquid Petroleum Gas (LPGAS)
In terms of the Government Notice No R1 029 dated 31 July 2002 the maximum
refinery gate price of LPGAS for the period 1 March 2007 to 31 March 2007 will
be R4 953.32 per metric ton (274.90 c/l).
7. Price Adjustment
In terms of the agreed mechanism:
(a) 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
(b) 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.
With effect from 3 March 1999 an additional mechanism has been approved by
the Minister of Minerals and Energy, intended to assist in management of
cumulative slate balances and which operates as follows:
Should the cumulative individual slate balances (positive or negative)
exceed R10 million for petrol, R5 million for diesel or R1 million for
illuminating paraffin, an additional 1.0 cent per litre will be added or
subtracted to the price as determined in (a) and (b) above, depending on the
status of the individual slate balances.
8. Breakdown of Price Adjustment
The price adjustments in (1) above are based on the following actual
data:
- Average product over/(under)-recovery, measured for the 20 days from
02/03/2007 to 29/03/2007 (cents/litre) as detailed below:
* Petrol 95 ULP: 59.600
* Diesel 0.05(%): 29.916
* Diesel 0.005(%): 28.878
* Illuminating Paraffin: 28.008
- Cumulative positive/(negative) slate balances end of January 2007 (R
million):
* Petrol 95 ULP: 337.833
* Diesel 0.05(%): 191.528
* Diesel 0.005(%): 191.528
* Illuminating Paraffin: (20.127)
The price adjustments consist of the following elements:
- Average product over/(under)-recovery rounded to the nearest full cent for
price (increase)/decrease:
* Petrol 95 ULP c/l: 59.000
* Diesel 0.05(%) c/l: 29.000
* Diesel 0.005(%) c/l: 28.000
* Illuminating Paraffin c/l: 29.000
- One cent/litre added or subtracted depending on cumulative slate balance
in terms of additional mechanism:
* Petrol 95 ULP c/l: 1.000
* Diesel 0.05(%) c/l: 1.000
* Diesel 0.005(%) c/l: 1.000
* Illuminating Paraffin c/l: (1.000)
- Increase in Fuel Tax Fund on Petrol and Diesel:
* Petrol 95 ULP c/l: (5.000)
* Diesel 0.05(%) c/l: (5.000)
* Diesel 0.005(%) c/l: (5.000)
- Increase in Road Accident Fund on Petrol and Diesel:
* Petrol 95 ULP c/l: (5.000)
* Diesel 0.05(%) c/l: (5.000)
* Diesel 0.005(%) c/l: (5.000)
- Increase in Rail Transport costs:
* Illuminating Paraffin c/l: (0.900)
- Total price (increase) / decrease:
* Petrol 95 ULP c/l: 68.000
* Diesel 0.05(%) c/l: 38.000
* Diesel 0.005(%) c/l: 37.000
* Illuminating Paraffin c/l: 30.900
9. Report of the Independent Auditors
The report of the independent auditors is available on request.
10. Analysis of the elements that resulted in the
over/(under)-recoveries
The over/(under)-recoveries for the period under review were affected by the
factors set out below, which can be quantified as follows:
Movements in external factors:
- Movement in International Product Prices
* Petrol c/l: (50.018)
* Diesel 0.05% c/l: (20.345)
* Diesel 0.005% c/l: (19.265)
* Illuminating Paraffin c/l: (18.423)
- Movement in Exchange Rate
* Petrol c/l: (9.582)
* Diesel 0.05%: (9.571)
* Diesel 0.005%: (9.613)
* Illuminating Paraffin: (9.586)
Over/(under)-recovery for the period 02/02/2007 to 01/03/2007
* Petrol: (59.600)
* Diesel 0.05%: (29.916)
* Diesel 0.005%: (28.878)
* Illuminating Paraffin: (28.008)
11. 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 04/04/2007 to 02/05/2007 will be as
follows:
- Wholesale margin:
* Petrol 95 ULP c/l: 39.487
* Petrol 93 ULP & LRP c/l: 39.268
* Petrol 91 ULP c/l: 39.049
* Diesel 0.05% S c/l: 39.260
* Diesel 0.005% S c/l: 39.260
* Illuminating Paraffin c/l: 39.472
- Service cost recoveries:
* Petrol 95 ULP c/l: 7.000
* Petrol 93 ULP & LRP c/l: 7.000
* Petrol 91 ULP c/l: 7.000
* Diesel 0.05% S c/l: 7.000
* Diesel 0.005% S c/l: 7.000
* Illuminating Paraffin c/l: 14.400
- Storage, handling and delivery costs:
* Petrol 95 ULP c/l: 7.000
* Petrol 93 ULP & LRP c/l: 7.000
* Petrol 91 ULP c/l: 7.000
* Diesel 0.05% S c/l: 7.000
* Diesel 0.005% S c/l: 7.000
* Illuminating Paraffin c/l: 7.000
- Distribution cost:
* Petrol 95 ULP c/l: 0
* Petrol 93 ULP & LRP c/l: 0
* Petrol 91 ULP c/l: 0
* Diesel 0.05% S c/l: 0
* Diesel 0.005% S c/l: 0
* Illuminating Paraffin c/l: 7.400
- Dealers margin:
* Petrol 95 ULP c/l: 48.000
* Petrol 93 ULP & LRP c/l: 48.000
* Petrol 91 ULP c/l: 48.000
* Diesel 0.05% S c/l: 0
* Diesel 0.005% S c/l: 0
* Illuminating Paraffin c/l: 0
- Zone differential in Gauteng:
* Petrol 95 ULP c/l: 13.700
* Petrol 93 ULP & LRP c/l: 13.700
* Petrol 91 ULP c/l: 13.700
* Diesel 0.05% S c/l: 13.700
* Diesel 0.005% S c/l: 13.700
* Illuminating Paraffin c/l: 24.100
- IP Tracer levy:
* Petrol 95 ULP c/l: 0
* Petrol 93 ULP & LRP c/l: 0
* Petrol 91 ULP c/l: 0
* Diesel 0.05% S c/l: 0.010
* Diesel 0.005% S c/l: 0.010
* Illuminating Paraffin c/l: 0
- Fuel levy:
* Petrol 95 ULP c/l: 121.000
* Petrol 93 ULP & LRP c/l: 121.000
* Petrol 91 ULP c/l: 121.000
* Diesel 0.05% S c/l: 105.000
* Diesel 0.005% S c/l: 105.000
* Illuminating Paraffin c/l: 0
- Customs and excise duty:
* Petrol 95 ULP c/l: 4.000
* Petrol 93 ULP & LRP c/l: 4.000
* Petrol 91 ULP c/l: 4.000
* Diesel 0.05% S c/l: 4.000
* Diesel 0.005% S c/l: 4.000
* Illuminating Paraffin c/l: 0
- Road Accident Fund (RAF) levy:
* Petrol 95 ULP c/l: 41.500
* Petrol 93 ULP & LRP c/l: 41.500
* Petrol 91 ULP c/l: 41.500
* Diesel 0.05% S c/l: 41.500
* Diesel 0.005% S c/l: 41.500
* Illuminating Paraffin c/l: 0
- Petroleum Pipelines levy:
* Petrol 95 ULP c/l: 0.190
* Petrol 93 ULP & LRP c/l: 0.190
* Petrol 91 ULP c/l: 0.190
* Diesel 0.05% S c/l: 0.190
* Diesel 0.005% S c/l: 0.190
- Slate levy:
* Petrol 95 ULP c/l: 4.810
* Petrol 93 ULP & LRP c/l: 4.810
* Petrol 91 ULP c/l: 4.810
* Diesel 0.05% S c/l: 4.810
* Diesel 0.005% S c/l: 4.810
* Illuminating Paraffin c/l: 5.000
- DSML:
* Petrol 95 ULP c/l: 10.000
* Petrol 93 ULP & LRP c/l: 0.000
* Petrol 91 ULP c/l: 0.000
* Diesel 0.05% S c/l: 0.000
* Diesel 0.005% S c/l: 0.000
* Illuminating Paraffin c/l: 0.000
- Equalisation Fund Levy:
* Petrol 95 ULP c/l: 0.000
* Petrol 93 ULP & LRP c/l: 0.000
* Petrol 91 ULP c/l: 0.000
* Diesel 0.05% S c/l: 0.000
* Diesel 0.005% S c/l: 0.000
* Illuminating Paraffin c/l: 0.000
- Sub-total:
* Petrol 95 ULP c/l: 289.687
* Petrol 93 ULP & LRP c/l: 279.468
* Petrol 91 ULP c/l: 279.249
* Diesel 0.05% S c/l: 215.470
* Diesel 0.005% S c/l: 215.470
* Illuminating Paraffin c/l: 82.972
- Contribution to the Basic Fuel Price:
* Petrol 95 ULP c/l: 377.313
* Petrol 93 ULP & LRP c/l: 374.532
* Petrol 91 ULP c/l: 371.751
* Diesel 0.05% S c/l: 374.630
* Diesel 0.005% S c/l: 376.030
* Illuminating Paraffin c/l: 379.128
- Retail Price:
* Petrol 95 ULP c/l: 667.00
* Petrol 93 ULP & LRP c/l: 654.00
* Petrol 91 ULP c/l: 651.00
- Wholesale price:
* Diesel 0.05% S c/l: 590.10
* Diesel 0.005% S c/l: 591.50
* Illuminating Paraffin c/l: 462.10
(*) The wholesale price of diesel is regulated, but not the retail price
Statistics of price changes
7-Dec-05:
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 545.00 - 532.00
* Diesel: Gauteng SA c/l - Coast SA c/l: 529.80 - 516.50
* Illuminating Paraffin: Gauteng SA c/l - Coast SA c/l: 400.60 - 378.20
4-Jan-06
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 549.00 - 526.00
* Diesel: Gauteng SA c/l - Coast SA c/l: 517.80 - 504.50
* Illuminating Paraffin: Gauteng SA c/l - Coast SA c/l: 398.60 - 376.20
1-Feb-06
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 563.00 - 540.00
* Diesel: Gauteng SA c/l - Coast SA c/l: 517.80 - 504.50
* Illuminating Paraffin: Gauteng SA c/l - Coast SA c/l: 402.60 - 380.20
1-Mar-06
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 552.00 - 529.00
* Diesel: Gauteng SA c/l - Coast SA c/l: 517.80 - 504.50
* Illuminating Paraffin: Gauteng SA c/l - Coast SA c/l: 406.60 - 384.20
5-Apr-06
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 573.00 - 549.00
* Diesel: Gauteng SA c/l - Coast SA c/l: 544.10 - 530.50
* Illuminating Paraffin: Gauteng SA c/l - Coast SA c/l: 412.20 - 389.20
3-May-06
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 612.00 - 588.00
* Diesel: Gauteng SA c/l - Coast SA c/l: 571.10 - 557.50
* Illuminating Paraffin: Gauteng SA c/l - Coast SA c/l: 432.20 - 409.20
7-Jun-06
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 648.00 - 624.00
* Diesel: Gauteng SA c/l - Coast SA c/l: 600.10 - 586.50
* Illuminating Paraffin: Gauteng SA c/l - Coast SA c/l: 452.20 - 429.20
5-Jul-06
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 673.00 - 649.00
* Diesel: Gauteng SA c/l - Coast SA c/l: 632.10 - 618.50
* Illuminating Paraffin: Gauteng SA c/l - Coast SA c/l: 488.20 - 465.20
2-Aug-06
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 704.00 - 680.00
* Diesel: Gauteng SA c/l - Coast SA c/l: 654.10 - 640.50
* Illuminating Paraffin: Gauteng SA c/l - Coast SA c/l: 509.20 - 486.20
6-Sep-06
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 668.00 - 644.00
* Diesel Gauteng SA c/l - Coast SA c/l: 629.10 - 615.50
* Illuminating Paraffin Gauteng SA c/l - Coast SA c/l: 504.20 - 481.20
4-Oct-06
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 618.00 - 594.00
* Diesel Gauteng SA c/l - Coast SA c/l: 595.10 - 581.50
* Illuminating Paraffin Gauteng SA c/l - Coast SA c/l: 482.20 - 459.20
1-Nov-06
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 597.00 - 573.00
* Diesel Gauteng SA c/l - Coast SA c/l: 593.10 - 579.50
* Illuminating Paraffin Gauteng SA c/l - Coast SA c/l: 469.20 - 446.20
6-Dec-06
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 590.00 - 566.00
* Diesel Gauteng SA c/l - Coast SA c/l: 568.10 - 554.50
* Illuminating Paraffin Gauteng SA c/l - Coast SA c/l: 444.20 - 421.20
3-Jan-07
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 598.00 - 574.00
* Diesel Gauteng SA c/l - Coast SA c/l: 551.10 - 537.50
* Illuminating Paraffin Gauteng SA c/l - Coast SA c/l: 447.20 - 424.20
7-Feb-07
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 575.00 - 551.00
* Diesel Gauteng SA c/l - Coast SA c/l: 542.10 - 528.50
* Illuminating Paraffin Gauteng SA c/l - Coast SA c/l: 421.20 - 398.20
7-Mar-07
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 599.00 - 575.00
* Diesel Gauteng SA c/l - Coast SA c/l: 552.10 - 538.50
* Illuminating Paraffin Gauteng SA c/l - Coast SA c/l: 431.20 - 408.20
4-Apr-07
* Petrol 95 ULP: Gauteng SA c/l - Coast SA c/l: 667.00 � 643.00
* Diesel Gauteng SA c/l - Coast SA c/l: 590.10 � 576.50
* Illuminating Paraffin Gauteng SA c/l - Coast SA c/l: 462.10 � 438.20
Enquiries:
Ms B Mafuna
Tel: (012) 317 8086
Cell: 082 571 4310
Issued by: Department of Minerals and Energy
30 March 2007
Source: Department of Minerals and Energy (http://www.dme.gov.za/)
