Global energy and commodity price-reporting agency Argus has launched daily price indexes for a range of fuels in South Africa, improving market transparency.
The Argus service gives market participants and government authorities information to help set consumer prices that reflect the flow of imports to South Africa.
South Africa imports over 100,000 b/d of oil products, around 70pc diesel and 25pc gasoline. With diesel imports rising at 10pc/yr over the past decade.
Prices for 95 Ron gasoline and diesel with sulphur content of 10 parts per million (ppm), 50ppm and 500ppm, calculated to reflect the price of deliveries from the Mideast Gulf to the South African port of Durban are now available in the daily Argus Asia-Pacific Products report.
These fuel prices are in addition to the daily Argus jet fuel c+f Durban prices that Argus has published since November 2015.
Argus is also providing a new South Africa LPG Index reflecting a 60:40 propane/butane mix delivered from the Mideast Gulf to the port of Richards Bay. This new index will be published in the daily Argus International LPG report from mid-July.
The launch of these prices follows the opening of Argus’ Africaheadquarters in Cape Town in March this year and is a further sign of Argus’ commitment to bringing increased transparency to the continent’s energy and commodity markets.
“Argus’ role is to bring transparency to petroleum markets in South Africa,” Argus Media’s chairman and chief executive Adrian Binks said. “Our reliable market prices give domestic producers vital tools to develop production planning, investment and trade strategies.”