Fuel Prices Cabo Verde
Part of: GIZ International Fuel Price database
Fuel Pricing Policies
| Local Currency: | CVE |
| Exchange Rate: | 81.701
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| Last Update: |
The „Agência de Regulação Económica“ (ARE) is in charge of setting maximum fuel prices in Cape Verde. These maximum prices a revised several times a year, usually bi-monthly. Maximum prices are homogenous across the country. Only SHELL and ENACOL are taking part in the petrol market (→App. A2). Those companies are liberal in setting their prices, however having the regulated maximum prices as an upper bound.
Prices include a considerable VAT for gasoline (45% of import price), while there is only 18% VAT on import price for diesel. Also, a small road maintenance fee is included in both prices, see above.
On their website, ARE publishes a lot of information about fuel prices and fuel pricing, including a document explaining the pricing formula for petroleum products (→Appendix A1). The document states, that costs for storage, shipping and handling/logistics are estimated using 2007/2008 balance sheets of oil companies that are operating in Cape Verde (→Appendix A2). “Additional Costs” also include some duty for recovering the deficit that accumulated in 2007 and 2008. (Seemingly, fuels were subsidized at that time.)
Fuel Prices and Trends
| Gasoline 95 Octane | Diesel | |
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| in Local Currency |
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* benchmark lines: green=US price; grey=price in Spain; red=price of Crude Oil
Fuel Price Composition
Price composition for one litre of Gasoline 95 Octane as of 2009/01/21.
Source:http://www.are.cv/index.php?option=com_docman&task=cat_view&gid=41&Itemid=99999999
- VAT for Diesel is only 18% (equals ~18 US Cents)
- “Other Taxes” seem to be constantly at 7 CVE; includes a road maintenance fee
- “Total Costs and Margins” include those of wholesalers and of retailers (no further information available)
At a Glance
| Regulation-Price-Matrix |
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Sources to the Public
| Type of Information | Web-Link / Source |
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| Other Information | http://www.are.cv/index.php?option=com_content&task=view&id=76&Itemid=90 |
| Price Composition | http://www.are.cv/index.php?option=com_docman&task=cat_view&gid=41&Itemid=99999999 (A3) |
| Pricing Mechanism | http://www.are.cv/index.php?option=com_content&task=view&id=35&Itemid=49 |
| Pump prices and margins | http://www.are.cv/index.php?option=com_content&task=view&id=96&Itemid=90 |
Contact
Please find more information on GIZ International Fuel Price Database and http://www.giz.de/fuelprices
