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How is the price of fuel determined in South Africa?

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GUEST – Reggie Sibiya, the chief executive at Fuel Retailers' Association

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.

3 Apr 2024 4PM English South Africa Business News · Investing

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