Global energy and commodity price reporting agency Argus has launched daily price indexes for a range of oil products in South Africa, aiming to improve 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 more than 100,000 bpd of oil products, around 70pc diesel and 25pc gasoline, with diesel imports rising at 10pc per year 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 liquefied petroleum gas (LPG) Index reflecting a 60:40 propane/butane mix delivered from the Mideast Gulf to the port of Richards Bay. This new index is expected to be published in the daily Argus International LPG report from mid-July.
The launch of these prices follows the opening of Argus' Africa headquarters in Cape Town and is in line with 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,” said Adrian Binks, chairman and chief executive of Argus Media.
