The petrol retail price is regulated by government and changed 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). The petrol pump price is composed of a number of price elements and these can be divided into international and domestic elements. The international element, or Basic Fuel price (BFP), is based on what it would cost a South African importer to buy petrol from an international refinery and to transport the product onto South African shores. The diesel retail price is not regulated.

There are two main constituents of the prices of controlled petroleum products:

• The external factors – the dollar price of the product on world markets multiplied by the US$/R exchange rate.
• The internal factors – the rand-based retail and oil company marketing margins, transport costs and taxes and levies.

Please refer to the www.sapia.org.za for more information on how the Petrol price is determined in South Africa.

Please also refer to the Shell website for latest price updates and price build up at www.shell.co.za.