Glossary of Terms

Glossary of Terms

Basic Fuel Price

Cost, Insurance and Freight

Consumer Price Index


Department of Minerals and Energy

Department of Energy

Free on Board

Free on Road

Gross Domestic Product



International Energy Agency

Liquefied Petroleum Gas

Lead Replacement Petrol

National Energy Regulator of South Africa

The Organisation of Economic Co-operation and Development

Organization of the Petroleum Exporting Countries

Parts per million

Statistics South Africa

Unleaded Petrol

United States Dollar

Above Ground Storage Tank Inspection

Above Ground Storage Tank

Close Interval Potential Survey

Cathodic Protection 

Cathodic Protection Surveyor 

Copper Sulfate Electrode 

Direct Vertical Groundbed

Forced Drainage unit

Geographical Information System 

Global Positioning System

Insulation Flange

Level of Protection Survey

Natural Drainage Unit

Pipeline Current Mapper 

Pipeline Management Program 

Remote Monitoring System 

Stay Current

Shallow Horizontal Groundbed 

Sulfate Reducing Bacteria

Test Post 

Transformer Rectifier Unit

Definition The Basic Fuel Price (BFP) is based on the import parity pricing principle i.e. what is would cost a South African importer of petrol to buy the petrol from an international refinery, transport the product from that refinery, insure the product against losses at sea and land the product on South African shores.

Demurrage is the time spent in a harbour to load and discharge a cargo – hourly rent of vessel, but not operating

  • International crude oil prices
  • International product supply/demand balances
  • Product inventory levels
  • Geo-politics
  • Rand/US Dollar exchange rate
  • International refining margins
  • Weather patterns in the Northern Hemisphere

Incremental Inland Transport Recovery levy to finance incremental inland transport costs due to the 100% capacity utilisation of the Durban/Johannesburg petroleum products pipeline

Petroleum products levy to reimburse the pipeline users for the applicable NERSA tariff on transporting fuel through the pipeline – levy set by the Ministers of Energy and of Finance in line with the expenditure budget of NERSA

IP Tracer dye levy to reimburse the oil industry for buying IP tracer dye and to inject it into IP to curtail the mixing of IP and diesel (loss to the Fiscus)

Slate levy to finance the cumulative under recovery of the industry. Only applicable when the cumulative Slate balance exceeds R250 million (under recovery)

Fuel levy Tax levied by Government (Minister of Finance)

Custom and Exercise levy a duty collected in terms of the Customs Union Agreement

Road Accident Fund (RAF) levy To compensate for people involved in vehicle accidents.

Demand Side Management levy (DSML) Introduced in 2006 to curtail the use of ULP 95 in the inland market.