Fuel prices remain unchanged

03 August 2021 | Energy

The ministry of mines announced that it will not adjust fuel prices given current economic circumstances, but warned that this may be short-lived.

At the moment, fuel prices remain unchanged at N$13.55 per litre of diesel and N$ 13.58 per litre for petrol (at Walvis Bay).
This comes despite previously reported under-recoveries.

“Looking ahead, oil prices remain volatile as rising Covid-19 cases are posing a threat to oil demand recovery at a time when OPEC+ has announced to boost output with an extra 400 000 barrels per day from August to December. Still, forecasts indicate that demand is likely to overtake supply for the rest of the year,” the ministry said.