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Haiti - Economy : Explanations of the Government on fuel prices
07/03/2015 10:50:27
Face the large fluctuations in oil prices on the international market, which occurred in a context of high volatility, which resulted in a significant drop and sudden in January [48.1 dollars per barrel], followed by an equally rapid rise in February [$57.9], the Government, in the interests of transparency and outreach, provide explanations on the impact of these fluctuations on the Haitian economy and prices at the pump.
This rise in the crude oil prices has involved an increase of 19% on average of CIF import price between the two latest arrivals from January 24 and February 21, 2015 in Haiti; as shown in the graph above.
Meanwhile, from January to February 2015, the exchange rate has increased from 45.5596 gourdes (BRH Reference Rate of 24 January 2015) for a dollar at 47.0254 gourdes (Reference Rate BRH 21 February 2015), a depreciation of 3 %;
In total between the arrival of 24 January and 21 February the CIF prices of all products increased by 20.87% for gasoline, 19.01% for diesel and 17.46% for kerosene.
The Government explained by referring to the "automatic price adjustment mechanism" in effect, to the available information on the latest arrivals and the depreciation of the exchange, that the price of diesel per gallon at the pump would normally pass from 157 gourdes to 180 gourdes, the kerosene from 156 gourdes to 164 gourdes, while gasoline 95 is expected to remain to 195 gourdes. Stressing that at present without price change, the loss per gallon is of 23.24 gourdes for gazoil and 8.13 gourds on kerosene.
However, the Government together with the transport unions are considering the establishment of a subsidy system through transporters, which should allow to target in particular, users of public transit and maintain prices with no increase.
It should be noted that the price gap with the Dominican Republic widened due to the weekly adjustments practiced by the neighboring country and that in Haiti, the difference is now 19.20 Gdes less for Gasoline, 17 Gdes less for Diesel and 3 Gdes more for kerosene.
Stabilization margin in price structures, arrival of February 21, 2015
GAZOLINE 95
IMPORT 21/02/15 Currency Exchange: 47.1500 Gdes
ACAMAR For usd $ 1.0000
ELEMENTS (usd $) (Gdes)
1-CIF Price 2.0406 96.2143
2-Financial Fees 0.0918 4.3296
3-Total Value for Customs 2.1324 100.5439
4-Verification fees 0.1066 5.0272
5-Customs duties 0.8530 40.2176
6-Harbor charges 0.0100 0.4715
7-Excise duties 0.0701 3.3066
8-Price Ex-Douane 3.1721 149.5668
9-Fuel royalty 0.0212 1.0000
10-Margins Companies 0.2624 12.3722
11-Transport Province 0.0331 1.5602
12-Margins Distributor 0.3326 15.6821
13-Sub Total 3.8214 180.1813
14-Variable Excise 0.1442 6.8000
15-To Reimburse 0.0000 0.0000
16- Stabilization margins (+/-) 0.1701 8.0187
17-Pump prices 3.9657 195.0000
Structure prepared for the arrival of February 21, 2015
GASOIL
IMPORT 21/02/15 Currency Exchange: 47.1500 Gdes
ACAMAR For usd $ 1.0000
ELEMENTS (usd $) (Gdes))
1-CIF Price 2.0806 98.1003
2-Financial Fees 0.0936 4.4145
3-Total Value for Customs 2.1742 102.5148
4-Verification fees 0.1087 5.1257
5-Customs duties 0.3261 15.3772
6-Harbor charges 0.0100 0.4715
7-Excise duties 0.5302 25.0000
8-Price Ex-Douane 3.1493 148.4893
9-Fuel royalty 0.0212 1.0000
10-Margins Companies 0.2004 9.4489
11-Transport Province 0.0331 1.5602
12-Margins Distributor 0.3341 15.7505
13-Sub Total 3.7380 176.2488
14-Variable Excise 0.0848 4.0000
15-To Reimburse 0.0000 0.0000
16- Stabilization margins (+/-) -0.4931 -23.2488
17-Pump prices 3.3298 157.0000
Structure prepared for the arrival of February 21, 2015
KEROSENE
IMPORT 21/02/15 Currency Exchange: 47.1500 Gdes
ACAMAR For usd $ 1.0000
ELEMENTS (usd $) (Gdes)
1-CIF Price 2.1006 99.0433
2-Financial Fees 0.0945 4.4569
3-Total Value for Customs 2.1951 103.5002
4-Verification fees 0.1098 5.1750
5-Customs duties 0.2195 10.3500
6-Harbor charges 0.0100 0.4715
7-Excise duties 0.4878 23.0000
8-Fuel royalty 3.0222 142.4968
9-Margins Companies 0.1731 8.1617
10-Transport Province 0.0331 1.5602
11-ransport Province 0.2433 11.4716
12-Sub Total 3.4717 163.6902
13-Variable Excise 0.0093 0.4400
14-To Reimburse 0.0000 0.0000
15- Stabilization margins (+/-) -0.1724 -8.1302
16-Pump prices 3.3086 156.0000
See also :
https://www.haitilibre.com/en/news-13130-haiti-economy-everything-you-need-to-know-about-fuel-prices.html
https://www.haitilibre.com/en/news-13095-haiti-flash-fuel-price-decrease-the-government-made-an-extra-effort.html
HL/ HaitiLibre
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