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We take a look at the total value and quantity of crude oil that South Africa imported in 2018 per month. When in 2018 did we import the most amount of crude oil, and when did crude oil cost the most to import into South Africa in 2018?
We take a look at these questions and more below. |
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Crude oil value and quantity per month in 2018
The bar chart below takes a look at the total value and quantity of crude oil imported into South Africa for each month of 2018.
So based on the bar chart above the highest value and largest quantity of crude oil was imported into South Africa in September 2018, with the value of crude oil imported during the month amounting to R17.3 billion and the amount of kilograms of crude oil imported being around 2.23 billion kilograms of crude oil. Thus the average Rand value per kilogram of crude being imported into South Africa in September 2018 amounted to R7.76 per kilogram of crude oil. The petrol price in September was sitting at R16.08 per litre of 95 octane at the reef. Thus the price per kilogram of crude oil imported was just less than half the price per litre of 95 octane petrol being sold at the reef.
The summary below shows the value of crude oil imports per month (and it shows the percentage that crude oil imports made up of South Africa's total imports during that particular month):
So now that we know how much crude came into South Africa each month, and what the value of the crude was, what was the average price paid per kilogram of crude oil imported per month? The summary below shows the average Rand value per kilogram of crude oil imported per month of 2018
So while October and November were the two months in which crude oil cost the most per kilogram to import into South Africa, April 2018 had the cheapest costs with it only costing R5.86 per kilogram of crude oil, a full -32.5% cheaper than what a kilogram of crude oil cost to importing during November 2018.
- Jan-18: R14 239 592 679 (13.19%)
- Feb-18: R 11 731 474 358 (12.95%)
- Mar-18: R 7 296 013 060 (8.22%)
- Apr-18: R 10 962 765 145 (12.56%)
- May-18: R 10 027 047 335 (10.15%)
- Jun-18: R 11 617 029 931 (11.78%)
- Jul-18: R 14 896 104 032 (13.28%)
- Aug-18: R 5 708 534 385 (5.29%)
- Sep-18: R 17 311 978 787 (14.84%)
- Oct-18: R 16 349 464 460 (12.99%)
- Nov-18: R 13 624 447 249 (11.81%)
- Dec-18: R 11 190 307 845 (13.08%)
So now that we know how much crude came into South Africa each month, and what the value of the crude was, what was the average price paid per kilogram of crude oil imported per month? The summary below shows the average Rand value per kilogram of crude oil imported per month of 2018
- Jan-18: R 6.87
- Feb-18: R 6.28
- Mar-18: R 6.09
- Apr-18: R 5.86
- May-18: R 6.37
- Jun-18: R 7.13
- Jul-18: R 7.34
- Aug-18: R 7.02
- Sep-18: R 7.76
- Oct-18: R 8.65
- Nov-18: R 8.69
- Dec-18: R 7.49
So while October and November were the two months in which crude oil cost the most per kilogram to import into South Africa, April 2018 had the cheapest costs with it only costing R5.86 per kilogram of crude oil, a full -32.5% cheaper than what a kilogram of crude oil cost to importing during November 2018.