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Philippine Oil Pump Price Calculation Model and Oil Company Gross Margin – Annexes

September 13th, 2012 Posted in Oil Pricing Formula

Philippine Oil Pump Price Calculation Model and Oil Company Gross Margin – Annexes

The last part of this 3-part series presents the results of applying the oil pump price calculation model into the 1974-June 2012 historical data on pump price, import costs, taxes and government imposts, logistical and transport costs, biofuels, and dealer margin.

Annex D.1 – Historical Pump Price, Dubai, Mops, Forex (1974-2012)

 

Annex D.2 – Historical TPLC, Pump Price, Gross Margin – Gasoline

 

GASOLINE

 

Ratio

TPLC

Ratio

OIL COMPANY

 

Ratio

ACTUAL

PREMIUM 95

MOPS

Pump to

 

Pump to

GROSS MARGIN

OPSF

GM

PRICE

UNLEADED 93

P /L

 

MOPS

P /L

 

TPLC

% of TPLC

P/L

P /L

 

PP

P /L

 

AVERAGE (1973 – 1983   REGULATED)

1973

1.624

0.439

0.928

-35.89%

-0.158

0.000

-38.66%

0.408

1974

2.800

0.602

1.762

100.45%

0.605

0.000

57.01%

1.061

1975

2.314

0.797

1.544

76.01%

0.606

0.000

49.22%

1.231

1976

2.099

1.025

1.455

66.86%

0.685

0.000

45.94%

1.491

1977

1.877

1.284

1.336

52.43%

0.673

0.000

39.24%

1.715

1978

1.584

1.575

1.149

11.53%

0.182

0.000

10.04%

1.810

1979

1.759

1.899

1.293

33.25%

0.631

0.000

25.71%

2.456

1980

2.704

2.254

2.009

123.42%

2.782

0.000

61.42%

4.530

1981

2.619

2.642

1.962

117.75%

3.111

0.000

60.02%

5.183

1982

2.274

3.061

1.715

88.08%

2.697

0.000

51.36%

5.250

1983

2.053

3.513

1.556

69.28%

2.434

0.000

44.53%

5.466

AVERAGE

 

2.194

1.736

1.603

63.93%

1.295

0.000

46.56%

2.782

AVERAGE (1984-1997 REGULATED)

1984

2.262

4.464

1.727

63.07%

2.816

0.020

36.52%

7.709

1985

2.319

4.801

1.774

66.96%

3.215

0.066

37.75%

8.516

1986

3.210

2.945

2.417

119.62%

3.523

0.224

49.50%

7.116

1987

2.554

3.687

1.939

93.22%

3.437

-0.408

48.08%

7.148

1988

2.758

3.330

2.086

70.31%

2.342

0.413

33.71%

6.948

1989

1.841

4.210

1.403

30.19%

1.271

-0.441

21.51%

5.909

1990

1.761

6.843

1.188

8.80%

0.602

-0.304

7.41%

8.128

1991

2.917

9.474

1.550

-10.74%

-1.018

5.359

-6.93%

14.687

1992

2.663

8.939

1.239

-5.99%

-0.535

1.804

-4.83%

11.071

1993

2.454

8.832

1.132

-5.90%

-0.521

0.839

-5.21%

10.000

1994

2.691

8.190

1.173

1.17%

0.096

0.510

1.00%

9.607

1995

2.515

8.200

1.098

7.51%

0.616

-0.682

6.85%

9.000

1996

2.511

8.611

1.134

3.82%

0.329

-0.044

3.37%

9.762

1997

2.448

9.644

1.156

4.90%

0.472

-0.022

4.24%

11.144

AVERAGE

 

2.471

6.584

1.375

31.93%

1.189

0.524

13.13%

9.053

AVERAGE (1998 TRANSITION)

1998

 

2.657

9.307

1.262

11.38%

1.059

-0.004

0.090

11.747

AVERAGE (1999 – 2005   DEREGULATED)

1999

2.394

10.124

1.222

8.23%

0.833

0.000

6.74%

12.369

2000

1.770

14.361

1.114

1.58%

0.227

0.000

1.42%

15.994

2001

1.999

14.123

1.248

15.22%

2.149

0.000

12.19%

17.630

2002

1.891

14.415

1.192

9.57%

1.380

0.000

8.03%

17.186

2003

1.697

17.432

1.153

7.22%

1.259

0.000

6.27%

20.098

2004

1.503

22.831

1.095

3.45%

0.787

0.000

3.15%

25.007

2005

1.472

28.675

1.104

1.93%

0.555

0.000

1.75%

31.668

AVERAGE

 

1.705

17.423

1.148

6.74%

1.027

0.000

5.14%

19.993

AVERAGE (2006 – 2012   RVAT)

2006

1.663

33.804

1.162

7.81%

2.641

0.000

6.73%

39.265

2007

1.659

34.373

1.156

7.59%

2.609

0.000

6.56%

39.741

2008

1.691

39.513

1.229

15.60%

6.165

0.000

12.70%

48.556

2009

1.719

30.793

1.174

4.35%

1.272

0.000

3.52%

36.163

2010

1.742

35.184

1.237

10.18%

3.401

0.000

7.82%

43.505

2011

1.665

43.821

1.239

18.51%

7.300

0.000

13.45%

54.293

2012

1.658

44.950

1.238

16.96%

6.863

0.000

12.33%

55.662

AVERAGE

 

1.683

37.491

1.209

11.57%

4.322

0.000

9.54%

45.312

 

Source: 2012 IOPRC TWG oil price team using data from DOE Oil Industry Monitoring Bureau staff

 

 

Annex D.3 – Historical TPLC, Pump Price, Gross Margin – Diesel

 

0.50% DIESEL

 

Ratio

TPLC

Ratio

OIL COMPANY

 

Ratio

ACTUAL

0.25% DIESEL

MOPS

Pump to

 

Pump to

GROSS MARGIN

OPSF

GM

PRICE

0.05% DIESEL

P /L

 

MOPS

P /L

 

TPLC

% of TPLC

P/L

P/L

PP

P/L

AVERAGE (1973 – 1983   REGULATED)

1973

1.302

0.420

0.712

-73.21%

-0.307

0.000

-102.78%

0.299

1974

2.287

0.575

1.398

7.19%

0.041

0.000

5.14%

0.804

1975

1.846

0.762

1.207

-3.86%

-0.029

0.000

-3.20%

0.920

1976

1.674

0.982

1.143

-4.72%

-0.046

0.000

-4.12%

1.123

1977

1.366

1.233

0.961

-19.05%

-0.235

0.000

-19.82%

1.186

1978

1.110

1.517

0.798

-44.83%

-0.680

0.000

-56.21%

1.210

1979

1.110

1.833

0.810

-39.33%

-0.721

0.000

-48.53%

1.485

1980

1.549

2.181

1.144

-2.70%

-0.059

0.000

-2.36%

2.495

1981

1.594

2.560

1.188

4.26%

0.109

0.000

3.59%

3.043

1982

1.393

2.972

1.046

-7.93%

-0.236

0.000

-7.58%

3.110

1983

1.308

3.416

0.988

-12.12%

-0.414

0.000

-12.27%

3.376

AVERAGE

 

1.424

1.677

1.032

-17.84%

-0.234

0.000

-13.53%

1.732

AVERAGE (1984-1997   REGULATED)

1984

1.714

4.344

1.305

21.85%

0.949

0.020

16.75%

5.669

1985

1.836

4.671

1.402

30.77%

1.437

0.064

21.95%

6.546

1986

2.371

2.869

1.778

43.82%

1.257

0.607

24.65%

5.101

1987

1.825

3.589

1.381

26.43%

0.949

0.047

19.14%

4.957

1988

1.974

3.244

1.488

13.99%

0.454

0.386

9.40%

4.826

1989

1.223

4.097

0.930

-0.88%

-0.036

-1.000

-0.95%

3.809

1990

1.212

5.988

0.907

-11.43%

-0.685

-0.714

-12.61%

5.429

1991

1.551

7.222

1.049

-9.34%

-0.675

0.280

-8.90%

7.578

1992

1.756

6.720

1.054

-3.31%

-0.223

-0.155

-3.14%

7.086

1993

1.709

6.798

1.030

-5.49%

-0.373

-0.162

-5.33%

7.000

1994

2.034

5.994

1.176

-2.70%

-0.162

0.476

-2.29%

7.049

1995

2.000

6.038

1.159

-3.23%

-0.195

0.411

-2.79%

7.000

1996

1.610

6.812

1.055

-4.24%

-0.289

-0.083

-4.02%

7.186

1997

1.745

6.674

1.174

5.42%

0.361

-0.147

4.61%

7.838

AVERAGE

 

1.717

5.361

1.160

7.26%

0.198

0.002

3.18%

6.220

AVERAGE (1998 TRANSITION)

1998

 

2.076

6.108

1.351

13.89%

0.848

-0.030

0.103

8.252

AVERAGE (1999 – 2005   DEREGULATED)

1999

1.873

6.904

1.276

7.96%

0.550

0.000

6.24%

8.806

2000

1.342

11.625

1.041

-7.74%

-0.899

0.000

-7.43%

12.101

2001

1.582

11.441

1.224

10.81%

1.237

0.000

8.83%

13.999

2002

1.538

11.622

1.193

7.75%

0.901

0.000

6.50%

13.864

2003

1.404

13.999

1.122

2.63%

0.368

0.000

2.35%

15.708

2004

1.196

20.177

0.988

-7.76%

-1.565

0.000

-7.85%

19.944

2005

1.219

27.731

1.027

-4.03%

-1.116

0.000

-3.92%

28.485

AVERAGE

 

1.363

14.786

1.091

1.38%

-0.075

0.000

-0.46%

16.129

AVERAGE (2006 – 2012   RVAT)

2006

1.344

31.390

1.096

1.86%

0.583

0.000

1.69%

34.415

2007

1.368

31.093

1.111

3.06%

0.945

0.000

2.74%

34.549

2008

1.290

41.382

1.069

1.62%

0.658

0.000

1.49%

44.247

2009

1.341

25.953

1.088

-2.76%

-0.703

0.000

-2.49%

28.230

2010

1.328

30.960

1.095

0.01%

0.004

0.000

0.01%

33.887

2011

1.290

41.038

1.080

-0.40%

-0.162

0.000

-0.36%

44.320

2012

1.318

41.608

1.104

2.17%

0.885

0.000

1.93%

45.934

AVERAGE

 

1.322

34.775

1.091

0.79%

0.316

0.000

0.83%

37.940

 

Source: 2012 IOPRC TWG oil price team using data from DOE Oil Industry Monitoring Bureau staff

 

 

 

Annex D.4 – Oil Pump Price Calculator (Excel Model)

 

Oil Pump Price Calculation (OPPC) Model   – Gasoline
1) TPLC Calculator – Gasoline        
As of Jan-Jun 2012 average

Period 1

Period 2

 

Delta (2 –   1)

Parcel Size, Bbl

300,000

300,000

Liters per Bbl

158.9868

158.9868

Total Volume, L

47,696,040

47,696,040

Density, kg/L

0.75

0.75

Total Metric Tons (1000 kg)

35,772

35,772

MOPS, $/Bbl

124.350

124.350

FOB, $

37,305,000

37,305,000

Freight, % FOB

2.00%

2.00%

Insurance, % FOB

4.00%

4.00%

CIF, $

39,543,300

39,543,300

Exchange Rate, PhP/$

42.91

42.91

CIF, PhP

1,696,803,003

1,696,803,003

Customs Duty, % of CIF

0.00%

0.00%

Customs Duty, PhP

0

0

Special Duty, PhP/L

0.00

0.00

5,300

Special Duty, PhP

0

0

200,000

Brokerage Fee, PhP

2,126,054

2,126,054

0.00125

Bank Charge, PhP

2,121,004

2,121,004

0.00125

Arrastre Charge, PhP

4,364,188

4,364,188

122.00

Wharfage Charge, PhP

1,311,045

1,311,045

36.65

Import Processing Fee, PhP

1,000

1,000

Customs Doc Stamps, PhP

256

256

Excise Tax, PhP/L

4.35

4.35

Excise Tax, PhP

207,477,774

207,477,774

Landed Cost (LC), PhP

1,914,204,323

1,914,204,323

VAT1 on Importation, % LC

12%

12%

VAT1 on Importation, PhP

229,704,519

229,704,519

Tax Paid Landed Cost, PhP

2,143,908,842

2,143,908,842

Tax Paid Landed Cost, PhP/L

44.9494

44.9494

0.0000

2) Pump Price Model – Gasoline        
As of Jan-Jun 2012 average

Period 1

Period 2

 

Delta (2 –   1)

    % Pure Oil

90.00%

90.00%

TPLC, PhP/L

40.4545

40.4545

Oil Company Gross Margin, % of TPLC

16.96%

16.96%

Oil Company Gross Margin, PhP/L

6.8611

6.8611

Refining Cost, PhP/L

0.0000

0.0000

0.0000

Transshipment, PhP/L

0.4707

0.4707

0.5230

Pipeline Cost, PhP/L

0.0000

0.0000

0.0000

Depot Operation, PhP/L

0.2805

0.2805

0.3117

Pure Biofuel Cost, PhP/L biofuel

37.7897

37.7897

37.7897

    % Biofuel in Blend

10.00%

10.00%

Biofuel Cost, PhP/L

3.7790

3.7790

Hauler’s Fee

0.3599

0.3599

Dealer’s Margin

1.8260

1.8260

    Sub-Total Local Costs, PhP/L

13.5771

13.5771

VAT2 on Local Costs , %

12%

12%

VAT2 on Local Costs , PhP/L

1.6293

1.6293

OPSF

0.0000

0.0000

Pump Price, PhP/L

55.6609

55.6609

0.0000

3) Pump Price Build-Up Summary

Period 1

Period 2

GASOLINE

PhP/L

%

PhP/L

%

FOB

33.5616

74.67%

33.5616

74.67%

FRT

0.6712

1.49%

0.6712

1.49%

INS

1.3425

2.99%

1.3425

2.99%

CIF

35.5753

79.15%

35.5753

79.15%

DUT

0.0000

0.00%

0.0000

0.00%

SD

0.00

0.00%

0.00

0.00%

BF

0.0446

0.10%

0.0446

0.10%

BC

0.0445

0.10%

0.0445

0.10%

AC

0.0915

0.20%

0.0915

0.20%

WF

0.0275

0.06%

0.0275

0.06%

IPF

0.0000

0.00%

0.0000

0.00%

CDS

0.0000

0.00%

0.0000

0.00%

ET

4.3500

9.68%

4.3500

9.68%

VAT1

4.8160

10.71%

4.8160

10.71%

TPLC

44.9494

100.00%

44.9494

100.00%

TPLC

40.4545

72.68%

40.4545

72.68%

OCGM

6.8611

12.33%

6.8611

12.33%

RC

0.0000

0.00%

0.0000

0.00%

TS

0.4707

0.85%

0.4707

0.85%

PC

0.0000

0.00%

0.0000

0.00%

DEP

0.2805

0.50%

0.2805

0.50%

BIO

3.7790

6.79%

3.7790

6.79%

HF

0.3599

0.65%

0.3599

0.65%

DM

1.8260

3.28%

1.8260

3.28%

VAT2

1.6293

2.93%

1.6293

2.93%

OPSF

0.0000

0.00%

0.0000

0.00%

PP

55.6609

100.00%

55.6609

100.00%

DUT

0.0000

0.00%

0.0000

0.00%

SD

0.0000

0.00%

0.0000

0.00%

WF

0.0247

0.04%

0.0247

0.04%

IPF

0.0000

0.00%

0.0000

0.00%

CDS

0.0000

0.00%

0.0000

0.00%

ET

3.9150

7.03%

3.9150

7.03%

VAT1

4.3344

7.79%

4.3344

7.79%

VAT2

1.6293

2.93%

1.6293

2.93%

Govt   Imposts

9.9034

17.79%

9.9034

17.79%

Delta   (Period 2 – Period 1)

 

 

0.0000

0.00%

Prepared by: Engr. Marcial T. Ocampo (mars_ocampo@yahoo.com)

 

 

 

 

Oil Pump Price Calculation (OPPC) Model   – Diesel
1) TPLC Calculator – Diesel        
As of Jan-Jun 2012 average

Period 1

Period 2

 

Delta (2 –   1)

Parcel Size, Bbl

300,000

300,000

Liters per Bbl

158.9868

158.9868

Total Volume, L

47,696,040

47,696,040

Density, kg/L

0.80

0.80

Total Metric Tons (1000 kg)

38,157

38,157

MOPS, $/Bbl

129.084

129.084

FOB, $

38,725,200

38,725,200

Freight, % FOB

2.00%

2.00%

Insurance, % FOB

4.00%

4.00%

CIF, $

41,048,712

41,048,712

Exchange Rate, PhP/$

42.91

42.91

CIF, PhP

1,761,400,232

1,761,400,232

Customs Duty, % of CIF

0.00%

0.00%

Customs Duty, PhP

0

0

Special Duty, PhP/L

0.00

0.00

5,300

Special Duty, PhP

0

0

200,000

Brokerage Fee, PhP

2,206,800

2,206,800

0.00125

Bank Charge, PhP

2,201,750

2,201,750

0.00125

Arrastre Charge, PhP

4,655,134

4,655,134

122.00

Wharfage Charge, PhP

1,398,448

1,398,448

36.65

Import Processing Fee, PhP

1,000

1,000

Customs Doc Stamps, PhP

256

256

Excise Tax, PhP/L

0.00

0.00

Excise Tax, PhP

0

0

Landed Cost (LC), PhP

1,771,863,620

1,771,863,620

VAT1 on Importation, % LC

12%

12%

VAT1 on Importation, PhP

212,623,634

212,623,634

Tax Paid Landed Cost, PhP

1,984,487,254

1,984,487,254

Tax Paid Landed Cost, PhP/L

41.6070

41.6070

0.0000

2) Pump Price Model – Diesel        
As of Jan-Jun 2012 average

Diesel

Period 2

 

Delta (2 –   1)

    % Pure Oil

98.00%

98.00%

TPLC, PhP/L

40.7748

40.7748

Oil Company Gross Margin, % of TPLC

2.17%

2.17%

Oil Company Gross Margin, PhP/L

0.8848

0.8848

Refining Cost, PhP/L

0.0000

0.0000

0.0000

Transshipment, PhP/L

0.5125

0.5125

0.5230

Pipeline Cost, PhP/L

0.0000

0.0000

0.0000

Depot Operation, PhP/L

0.3052

0.3052

0.3114

Pure Biofuel Cost, PhP/L biofuel

61.6786

61.6786

    % Biofuel in Blend

2.00%

2.00%

Biofuel Cost, PhP/L

1.2336

1.2336

Hauler’s Fee

0.1970

0.1970

Dealer’s Margin

1.4717

1.4717

    Sub-Total Local Costs, PhP/L

4.6048

4.6048

VAT2 on Local Costs , %

12%

12%

VAT2 on Local Costs , PhP/L

0.5526

0.5526

OPSF

0.0000

0.0000

Pump Price, PhP/L

45.9322

45.9322

0.0000

3) Pump Price Build-Up Summary

Period 1

Period 2

DIESEL

PhP/L

%

PhP/L

%

FOB

34.8393

83.73%

34.8393

83.73%

FRT

0.6968

1.67%

0.6968

1.67%

INS

1.3936

3.35%

1.3936

3.35%

CIF

36.9297

88.76%

36.9297

88.76%

DUT

0.0000

0.00%

0.0000

0.00%

SD

0.00

0.00%

0.00

0.00%

BF

0.0463

0.11%

0.0463

0.11%

BC

0.0462

0.11%

0.0462

0.11%

AC

0.0976

0.23%

0.0976

0.23%

WF

0.0293

0.07%

0.0293

0.07%

IPF

0.0000

0.00%

0.0000

0.00%

CDS

0.0000

0.00%

0.0000

0.00%

ET

0.0000

0.00%

0.0000

0.00%

VAT1

4.4579

10.71%

4.4579

10.71%

TPLC

41.6070

100.00%

41.6070

100.00%

TPLC

40.7748

88.77%

40.7748

88.77%

OCGM

0.8848

1.93%

0.8848

1.93%

RC

0.0000

0.00%

0.0000

0.00%

TS

0.5125

1.12%

0.5125

1.12%

PC

0.0000

0.00%

0.0000

0.00%

DEP

0.3052

0.66%

0.3052

0.66%

BIO

1.2336

2.69%

1.2336

2.69%

HF

0.1970

0.43%

0.1970

0.43%

DM

1.4717

3.20%

1.4717

3.20%

VAT2

0.5526

1.20%

0.5526

1.20%

OPSF

0.0000

0.00%

0.0000

0.00%

PP

45.9322

100.00%

45.9322

100.00%

DUT

0.0000

0.00%

0.0000

0.00%

SD

0.0000

0.00%

0.0000

0.00%

WF

0.0287

0.06%

0.0287

0.06%

IPF

0.0000

0.00%

0.0000

0.00%

CDS

0.0000

0.00%

0.0000

0.00%

ET

0.0000

0.00%

0.0000

0.00%

VAT1

4.3687

9.51%

4.3687

9.51%

VAT2

0.5526

1.20%

0.5526

1.20%

Govt   Imposts

4.9501

10.78%

4.9501

10.78%

Delta   (Period 2 – Period 1)

 

 

0.0000

0.00%

Prepared by: Engr. Marcial T. Ocampo (mars_ocampo@yahoo.com)

 

 


Annex D.5 – Unleaded Gasoline Pump Price Breakdown

Gasoline Pump Price Breakdown, in Pesos per Liter

YEAR

CIF

TAXES

BOC FEES

LOGISTICS

BIOFUEL

OIL CO.

OPSF

DEALER

74

0.402

0.080

0.028

0.153

0.000

0.605

0.000

0.157

75

0.564

0.113

0.028

0.153

0.000

0.606

0.000

0.157

76

0.753

0.151

0.028

0.153

0.000

0.685

0.000

0.157

77

0.969

0.194

0.028

0.154

0.000

0.673

0.000

0.157

78

1.211

0.242

0.028

0.215

0.000

0.182

0.000

0.313

79

1.480

0.296

0.028

0.215

0.000

0.631

0.000

0.313

80

1.776

0.355

0.028

0.216

0.000

2.782

0.000

0.313

81

2.098

0.420

0.028

0.217

0.000

3.111

0.000

0.313

82

2.447

0.489

0.028

0.218

0.000

2.697

0.000

0.313

83

2.823

0.565

0.028

0.219

0.000

2.434

0.000

0.313

84

3.613

0.723

0.028

0.221

0.000

2.816

0.020

0.313

85

3.893

0.779

0.028

0.221

0.000

3.215

0.066

0.313

86

2.350

0.470

0.028

0.217

0.000

3.523

0.224

0.313

87

2.967

0.593

0.028

0.219

0.000

3.437

-0.408

0.313

88

2.671

0.534

0.028

0.338

0.000

2.342

0.413

0.626

89

3.402

0.680

0.028

0.340

0.000

1.271

-0.441

0.626

90

4.893

1.819

0.028

0.344

0.000

0.602

-0.304

0.626

91

5.337

4.004

0.028

0.345

0.000

-1.018

5.359

0.626

92

4.407

4.401

0.028

0.342

0.000

-0.535

1.804

0.626

93

4.319

4.384

0.028

0.342

0.000

-0.521

0.839

0.626

94

3.785

4.277

0.028

0.341

0.000

0.096

0.510

0.626

95

3.793

4.279

0.028

0.341

0.000

0.616

-0.682

0.626

96

4.121

4.360

0.028

0.342

0.000

0.329

-0.044

0.626

97

4.825

4.688

0.028

0.441

0.000

0.472

-0.022

0.746

98

4.686

4.491

0.028

0.578

0.000

1.059

-0.004

0.913

99

5.477

4.514

0.028

0.580

0.000

0.833

0.000

0.913

00

9.580

4.637

0.028

0.591

0.000

0.227

0.000

0.913

01

9.350

4.630

0.028

0.590

0.000

2.149

0.000

0.913

02

9.633

4.639

0.028

0.591

0.000

1.380

0.000

0.913

03

12.555

4.727

0.028

0.598

0.000

1.259

0.000

0.913

04

17.631

5.037

0.028

0.611

0.000

0.787

0.000

0.913

05

22.807

5.738

0.028

0.519

0.000

0.555

0.000

2.000

06

25.021

9.174

0.028

0.748

0.000

2.641

0.000

1.600

07

25.395

9.384

0.028

0.990

0.000

2.609

0.000

1.467

08

30.436

9.902

0.028

1.038

0.000

6.165

0.000

1.467

09

21.185

8.644

0.026

0.896

2.680

1.272

0.000

1.475

10

25.152

9.182

0.026

0.974

3.364

3.401

0.000

1.452

11

31.113

9.734

0.025

1.096

3.445

7.300

0.000

1.596

12

32.019

9.879

0.025

1.274

3.779

6.863

0.000

1.826

 

Gasoline Pump Price Breakdown, in % of Pump Price

YEAR

CIF

TAXES

BOC FEES

LOGISTICS

BIOFUEL

OIL CO.

OPSF

DEALER

74

28.2%

5.6%

1.9%

10.7%

0.0%

42.5%

0.0%

11.0%

75

34.8%

7.0%

1.7%

9.4%

0.0%

37.4%

0.0%

9.7%

76

39.1%

7.8%

1.4%

8.0%

0.0%

35.6%

0.0%

8.1%

77

44.6%

8.9%

1.3%

7.1%

0.0%

31.0%

0.0%

7.2%

78

55.3%

11.1%

1.3%

9.8%

0.0%

8.3%

0.0%

14.3%

79

49.9%

10.0%

0.9%

7.3%

0.0%

21.3%

0.0%

10.6%

80

32.5%

6.5%

0.5%

3.9%

0.0%

50.9%

0.0%

5.7%

81

33.9%

6.8%

0.4%

3.5%

0.0%

50.3%

0.0%

5.1%

82

39.5%

7.9%

0.4%

3.5%

0.0%

43.6%

0.0%

5.1%

83

44.2%

8.8%

0.4%

3.4%

0.0%

38.2%

0.0%

4.9%

84

46.7%

9.3%

0.4%

2.9%

0.0%

36.4%

0.3%

4.0%

85

45.7%

9.1%

0.3%

2.6%

0.0%

37.8%

0.8%

3.7%

86

33.0%

6.6%

0.4%

3.1%

0.0%

49.4%

3.1%

4.4%

87

41.5%

8.3%

0.4%

3.1%

0.0%

48.1%

-5.7%

4.4%

88

38.4%

7.7%

0.4%

4.9%

0.0%

33.7%

5.9%

9.0%

89

57.6%

11.5%

0.5%

5.8%

0.0%

21.5%

-7.5%

10.6%

90

61.1%

22.7%

0.3%

4.3%

0.0%

7.5%

-3.8%

7.8%

91

36.4%

27.3%

0.2%

2.3%

0.0%

-6.9%

36.5%

4.3%

92

39.8%

39.7%

0.2%

3.1%

0.0%

-4.8%

16.3%

5.7%

93

43.1%

43.8%

0.3%

3.4%

0.0%

-5.2%

8.4%

6.2%

94

39.2%

44.3%

0.3%

3.5%

0.0%

1.0%

5.3%

6.5%

95

42.1%

47.5%

0.3%

3.8%

0.0%

6.8%

-7.6%

7.0%

96

42.2%

44.7%

0.3%

3.5%

0.0%

3.4%

-0.5%

6.4%

97

43.2%

41.9%

0.2%

3.9%

0.0%

4.2%

-0.2%

6.7%

98

39.9%

38.2%

0.2%

4.9%

0.0%

9.0%

0.0%

7.8%

99

44.4%

36.6%

0.2%

4.7%

0.0%

6.7%

0.0%

7.4%

00

60.0%

29.0%

0.2%

3.7%

0.0%

1.4%

0.0%

5.7%

01

52.9%

26.2%

0.2%

3.3%

0.0%

12.2%

0.0%

5.2%

02

56.1%

27.0%

0.2%

3.4%

0.0%

8.0%

0.0%

5.3%

03

62.5%

23.5%

0.1%

3.0%

0.0%

6.3%

0.0%

4.5%

04

70.5%

20.1%

0.1%

2.4%

0.0%

3.1%

0.0%

3.7%

05

72.1%

18.1%

0.1%

1.6%

0.0%

1.8%

0.0%

6.3%

06

63.8%

23.4%

0.1%

1.9%

0.0%

6.7%

0.0%

4.1%

07

63.7%

23.5%

0.1%

2.5%

0.0%

6.5%

0.0%

3.7%

08

62.1%

20.2%

0.1%

2.1%

0.0%

12.6%

0.0%

3.0%

09

58.6%

23.9%

0.1%

2.5%

7.4%

3.5%

0.0%

4.1%

10

57.8%

21.1%

0.1%

2.2%

7.7%

7.8%

0.0%

3.3%

11

57.3%

17.9%

0.0%

2.0%

6.3%

13.4%

0.0%

2.9%

12

57.5%

17.7%

0.0%

2.3%

6.8%

12.3%

0.0%

3.3%

 

 


Annex D.6 – Diesel Pump Price Breakdown

Diesel Pump Price Breakdown, in Pesos per Liter

YEAR

CIF

TAXES

BOC FEES

LOGISTICS

BIOFUEL

OIL CO.

OPSF

DEALER

74

0.373

0.075

0.029

0.159

0.000

0.041

0.000

0.126

75

0.528

0.106

0.029

0.159

0.000

-0.029

0.000

0.126

76

0.711

0.142

0.029

0.159

0.000

-0.046

0.000

0.126

77

0.920

0.184

0.029

0.160

0.000

-0.235

0.000

0.126

78

1.156

0.231

0.029

0.220

0.000

-0.680

0.000

0.253

79

1.419

0.284

0.029

0.221

0.000

-0.721

0.000

0.253

80

1.708

0.342

0.029

0.222

0.000

-0.059

0.000

0.253

81

2.024

0.405

0.029

0.223

0.000

0.109

0.000

0.253

82

2.366

0.473

0.029

0.224

0.000

-0.236

0.000

0.253

83

2.735

0.547

0.029

0.224

0.000

-0.414

0.000

0.253

84

3.507

0.701

0.029

0.226

0.000

0.949

0.020

0.253

85

3.778

0.756

0.029

0.227

0.000

1.437

0.064

0.253

86

2.281

0.456

0.029

0.223

0.000

1.257

0.607

0.253

87

2.879

0.576

0.029

0.225

0.000

0.949

0.047

0.253

88

2.592

0.518

0.029

0.344

0.000

0.454

0.386

0.505

89

3.301

0.660

0.029

0.346

0.000

-0.036

-1.000

0.505

90

4.749

1.100

0.029

0.349

0.000

-0.685

-0.714

0.505

91

5.180

1.903

0.029

0.350

0.000

-0.675

0.280

0.505

92

4.277

2.305

0.029

0.348

0.000

-0.223

-0.155

0.505

93

4.342

2.318

0.029

0.348

0.000

-0.373

-0.162

0.505

94

3.673

2.185

0.029

0.347

0.000

-0.162

0.476

0.505

95

3.710

2.192

0.029

0.347

0.000

-0.195

0.411

0.505

96

4.731

1.942

0.029

0.349

0.000

-0.289

-0.083

0.505

97

4.762

1.773

0.029

0.447

0.000

0.361

-0.147

0.650

98

4.214

1.756

0.029

0.583

0.000

0.848

-0.030

0.853

99

4.985

1.780

0.029

0.585

0.000

0.550

0.000

0.853

00

9.557

1.917

0.029

0.597

0.000

-0.899

0.000

0.853

01

9.379

1.911

0.029

0.596

0.000

1.237

0.000

0.853

02

9.555

1.917

0.029

0.597

0.000

0.901

0.000

0.853

03

11.857

1.986

0.029

0.602

0.000

0.368

0.000

0.853

04

17.675

2.330

0.029

0.617

0.000

-1.565

0.000

0.853

05

24.774

2.780

0.029

0.530

0.000

-1.116

0.000

1.500

06

27.142

4.369

0.029

0.955

0.000

0.583

0.000

1.300

07

26.586

4.518

0.029

0.994

0.385

0.945

0.000

1.267

08

35.636

5.141

0.029

1.042

0.854

0.658

0.000

1.267

09

21.874

3.683

0.029

1.050

1.068

-0.703

0.000

1.250

10

26.505

4.031

0.029

1.060

1.025

0.004

0.000

1.286

11

35.695

4.750

0.029

1.197

1.523

-0.162

0.000

1.300

12

36.192

4.921

0.029

1.201

1.234

0.885

0.000

1.472

 

Diesel Pump Price Breakdown, in % of Pump Price

YEAR

CIF

TAXES

BOC FEES

LOGISTICS

BIOFUEL

OIL CO.

OPSF

DEALER

74

46.4%

9.3%

3.7%

19.8%

0.0%

5.2%

0.0%

15.7%

75

57.5%

11.5%

3.2%

17.3%

0.0%

-3.2%

0.0%

13.7%

76

63.4%

12.7%

2.6%

14.2%

0.0%

-4.1%

0.0%

11.3%

77

77.7%

15.5%

2.5%

13.5%

0.0%

-19.8%

0.0%

10.7%

78

95.6%

19.1%

2.4%

18.2%

0.0%

-56.2%

0.0%

20.9%

79

95.6%

19.1%

2.0%

14.9%

0.0%

-48.6%

0.0%

17.0%

80

68.5%

13.7%

1.2%

8.9%

0.0%

-2.4%

0.0%

10.1%

81

66.5%

13.3%

1.0%

7.3%

0.0%

3.6%

0.0%

8.3%

82

76.1%

15.2%

0.9%

7.2%

0.0%

-7.6%

0.0%

8.1%

83

81.1%

16.2%

0.9%

6.7%

0.0%

-12.3%

0.0%

7.5%

84

61.7%

12.3%

0.5%

4.0%

0.0%

16.7%

0.3%

4.4%

85

57.7%

11.5%

0.4%

3.5%

0.0%

22.0%

1.0%

3.9%

86

44.7%

8.9%

0.6%

4.4%

0.0%

24.6%

11.9%

4.9%

87

58.1%

11.6%

0.6%

4.5%

0.0%

19.1%

0.9%

5.1%

88

53.7%

10.7%

0.6%

7.1%

0.0%

9.4%

8.0%

10.5%

89

86.7%

17.3%

0.8%

9.1%

0.0%

-0.9%

-26.3%

13.3%

90

89.0%

20.6%

0.6%

6.5%

0.0%

-12.8%

-13.4%

9.5%

91

68.4%

25.1%

0.4%

4.6%

0.0%

-8.9%

3.7%

6.7%

92

60.3%

32.5%

0.4%

4.9%

0.0%

-3.1%

-2.2%

7.1%

93

62.0%

33.1%

0.4%

5.0%

0.0%

-5.3%

-2.3%

7.2%

94

52.1%

31.0%

0.4%

4.9%

0.0%

-2.3%

6.7%

7.2%

95

53.0%

31.3%

0.4%

5.0%

0.0%

-2.8%

5.9%

7.2%

96

65.8%

27.0%

0.4%

4.9%

0.0%

-4.0%

-1.2%

7.0%

97

60.5%

22.5%

0.4%

5.7%

0.0%

4.6%

-1.9%

8.3%

98

51.1%

21.3%

0.4%

7.1%

0.0%

10.3%

-0.4%

10.3%

99

56.8%

20.3%

0.3%

6.7%

0.0%

6.3%

0.0%

9.7%

00

79.3%

15.9%

0.2%

4.9%

0.0%

-7.5%

0.0%

7.1%

01

67.0%

13.6%

0.2%

4.3%

0.0%

8.8%

0.0%

6.1%

02

69.0%

13.8%

0.2%

4.3%

0.0%

6.5%

0.0%

6.2%

03

75.5%

12.7%

0.2%

3.8%

0.0%

2.3%

0.0%

5.4%

04

88.6%

11.7%

0.1%

3.1%

0.0%

-7.8%

0.0%

4.3%

05

86.9%

9.8%

0.1%

1.9%

0.0%

-3.9%

0.0%

5.3%

06

79.0%

12.7%

0.1%

2.8%

0.0%

1.7%

0.0%

3.8%

07

76.6%

13.0%

0.1%

2.9%

1.1%

2.7%

0.0%

3.6%

08

79.9%

11.5%

0.1%

2.3%

1.9%

1.5%

0.0%

2.8%

09

77.4%

13.0%

0.1%

3.7%

3.8%

-2.5%

0.0%

4.4%

10

78.1%

11.9%

0.1%

3.1%

3.0%

0.0%

0.0%

3.8%

11

80.5%

10.7%

0.1%

2.7%

3.4%

-0.4%

0.0%

2.9%

12

78.8%

10.7%

0.1%

2.6%

2.7%

1.9%

0.0%

3.2%

 

 


Annex D.7 – Oil Pump Price Calculation Procedure

Calibrate Model by Calculating % Gross Margin from Pump Price Less All Costs:

 

%GM = {[PP – OPSF – DPLC * (1 – % biofuel)] / (1 + VAT2) – [(TS + PL + DE) * (1 – % biofuel) + BIO + HF + DM]} / {DPLC * (1 – % biofuel)}

 

Calculate Pump Price using the % Gross Margin and Other Cost Inputs:

 

PP = DPLC * (1 – % biofuel) + [DPLC x (1 – % biofuel) * %GM + (TS + PL + DE) * (1 – % biofuel) + BIO + HF + DM] * (1 + %VAT2) + OPSF

 

The calculation of DPLC and PP are shown below:

 

DUBAI$ = given Dubai crude price

 

MOPS$ = DUBAI$ x (factor to refine crude to finished product)

= MOPS product price + premium (risks due to conflict, supply, transport availability)

 

FOB$ = Freight on Board in US$ = MOPS * 300,000

 

FRT$ = Ocean Freight in US$ = FOB$ * 2.00%

 

INS$ = Ocean Insurance in US$ = FOB$ * 4.00%

 

CIF$ = Cargo, Insurance & Freight in US$ = FOB$ + FRT$ + INS$

 

CIF = CIF in Pesos = CIF$ x (FOREX, P/$)

 

CD = Customs Duty = CIF * 3.00% (now zero due to ASEAN AFTA)

 

BF= Brokerage Fee = 5,300 + (CIF – 200,000) * 0.00125

 

BC = Bank Charges = CIF * 0.00125

 

AC = Arrastre Charge (gasoline) = 122 * (0.75 * 158.9868 / 1000) * 300,000

AC = Arrastre Charge (diesel) = 122 * (0.80 * 158.9868 / 1000) * 300,000

 

WC = Wharfage Charge (gasoline) = 36.65 * (0.75 * 158.9868 / 1000) * 300,000

WC = Wharfage Charge (diesel) = 36.65 * (0.80 * 158.9868 / 1000) * 300,000

 

IPF = Import Processing Fee = 1,000 per import entry

 

CDS = Customs Documentary Stamp = 256 per import entry

 

ET = Excise Tax (gasoline) = 4.35 * 158.9868 * 300,000

ET = Excise Tax (diesel) = 1.63 * 158.9868 * 300,000

 

LC = Landed Cost = CIF + CD + BF + BC + AC + WC + IPF + CDS + ET

 

VAT1 (on import) = 10% * Landed Cost (Nov 2005 – Jan 2000)

=  12% * Landed Cost (Feb 2006 – present)

 

DPLC = LC + VAT1 (imports) = LC * (1 + %VAT1)

 

DPLC (P/L) = DPLC / (300,000 * 158.9868)

 

Summary to BOC = CD + IPF + CDS + ET + VAT1

Summary to BOC (P/L) = Summary to BOC / (300,000 * 158.9868)

 

OCGM = Oil Company Gross Margin (P/L) = DPLC * (1 – % biofuel) * % gross margin

 

OOCC = Other Oil Company Costs (P/L) = (TS + PL + DE) * (1 – % biofuel) + BIO

 

TS = Transshipment = 0.38 P/L (for oil tanker ships and barges)

 

PL = Pipeline = 0.000 P/L (for FPIC)

 

DE = depot = 0.27 P/L (gasoline)

= 0.28 P/L (diesel)

 

BIO = Biofuels = 10% * (P/L of ETHANOL) = 2.63 P/L (gasoline)

=   2% * (P/L of CME Biodiesel) = 1.28 P/L (diesel)

 

HF = Hauler’s Fee (P/L) = 0.21 P/L (gasoline and diesel)

 

DM = Dealer’s Margin (P/L) = 1.72 (gasoline)

= 1.47 (diesel)

 

TLC = Total Local Costs (P/L) = OCGM + OOCC + HF + DM

 

VAT2 (local costs) = 10% * Total Local Cost (Nov 2005 – Jan 2006)

= 12% * Total Local Cost (Feb 2006 – present)

 

PP = Pump Price (P/L) = DPLC * (1 – % biofuel) + TLC + VAT2 + OPSF

= DPLC * (1 – % biofuel) + TLC * (1 + %VAT2) + OPSF

 

PP = DPLC * (1 – % biofuel) + [DPLC x (1 – % biofuel) * %GM + (TS + PL + DE) * (1 – % biofuel) + BIO + HF + DM] * (1 + %VAT2) + OPSF

 

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