Search

 

Cablegate: South Africa: Fuel Price Spiral Takes A

This record is a partial extract of the original cable. The full text of the original cable is not available.

UNCLAS PRETORIA 002278

SIPDIS

STATE PLEASE PASS USGS
USDOC FOR 4510/ITA/MAC/AME/OA/DIEMOND
DOE FOR THOMAS SPERL

E.O. 12958: N/A
TAGS: EPET ENRG ECON EIND SF
SUBJECT: SOUTH AFRICA: FUEL PRICE SPIRAL TAKES A
BREATHER

REF: PRETORIA 2998

Summary
-------
1. (U) On June 1, 2005, the Department of Minerals
and Energy slightly reduced the prices of gasoline,
diesel, and kerosene from all time highs charged the
previous month. The primary reason for the move was
the lower price of crude oil. End Summary.

Government Announces Marginal Price Decreases
--------------------------------------
2. (U) On June 1, the Department of Minerals and
Energy (DME) reduced the retail price of gasoline by
3.1% and wholesale prices of diesel and kerosene by
an average of 3.3% and 6%, respectively. The
primary reason for the move was the lower price of
imported crude oil during the May 1 to May 31 period
of assessment. The weakening of the rand towards
the end of May and a surcharge to balance refinery
losses incurred during the previous month lessened
the decrease somewhat as prices moved from all time
highs in May. The tables below show the decrease in
the average price of fuel in Johannesburg and
components for the new price.

Wholesale Johannesburg Prices
(U.S. Dollars/Gallon)

April May June %Change
Gasoline - (retail) 3.14 3.20 3.05 -4.7
Diesel - 0.3% Sulfur 2.97 2.96 2.82 -3.9
Diesel - 0.05% Sulfur 3.09 3.10 2.95 -4.8
Kerosene 2.28 2.39 2.23 -6.7

Wholesale Johannesburg Prices
(S.A. Rands/Liter)

Gasoline - (retail) 5.02 5.22 5.06 -3.1
Diesel - 0.3% Sulfur 4.74 4.84 4.68 -3.3
Diesel - 0.05% Sulfur 4.93 5.06 4.89 -3.4
Kerosene 3.64 3.90 3.71 -4.9

Components for the New Price

Basic Fuel Price 48.0%
Taxes and Levies 31.9%
Operating Margin 20.1%

FRAZER

© Scoop Media

 
 
 
World Headlines

 

Climate Change: Record Northern Heat, Fuels Concerns Over US Wildfire Destruction

More than 78,000 acres of forest in the Sierra mountains in California has been lost due to wildfires. Photo: San Francisco Fire Department The northern hemisphere experienced its warmest August ever, the World Meteorological Organization ( WMO ... More>>

UN: Guterres Condemns Killing Of Journalists, Following Beheading Of Mexican Crime Reporter

© UNESCO | International Day to End Impunity for Crimes against Journalists. Following the gruesome death of a Mexican journalist specializing in crime reporting, who was found beheaded on Wednesday, UN chief António Guterres has issued a statement condemning ... More>>

UN: WHO Warns Against Potential Ebola Spread In DR Congo And Beyond

Ebola is spreading in a western province in the Democratic Republic of the Congo (DRC), raising fears that the disease could reach neighbouring Republic of Congo and even the capital, Kinshasa, the World Health Organization (WHO) said on Friday. ... More>>

WWF: Living Planet Report Reveals Average Two-Thirds Decline In Wildlife Populations Since 1970

According to WWF’s Living Planet Report 2020 released today, global populations* of mammals, birds, amphibians, reptiles and fish have suffered an average two-thirds decline in less than half a century. The decline is due in large part to the very ... More>>