Diesel price adjustment a welcome relief

02 October 2020 | Energy

Swakopmund • [email protected]

The secretary general of the Namibia Transport and Taxi Union (NTTU), Werner Januarie, welcomed the adjustment in diesel fuel pump prices

“It is a good surprise, especially for long distance taxi drivers and will go a long way in assisting them in their operations.”

This comes after the ministry of mines and energy (MME) announced that the fuel pump price for diesel will decrease by 40 cents from N$11.18 to N$11.58 per litre. The new prices in Walvis Bay (port of entry) will become effective as of Wednesday, 7 October at 00:01 and will be adjusted accordingly countrywide.

The petrol remain at N$11.65 per litre.

“We also hope that there will be a decrease in the petrol fuel pump price very soon,” said Januarie.

A long distance bus driver, Joseph Petrus who drives between Swakopmund and the north daily, agreed that paying 40 cents less for a litre of diesel will definitely make a difference.

“This will reduce my expenditure on diesel and save me some money.”

In the announcement on the new fuel prices for October, MME minister Tom Alweendo said that fuel pump prices locally are influenced by a host of factors.

These include the international price of refined oil, the exchange rate between the Namibia dollar and the US dollar, as well as the cost of shipping petroleum products from the international market to Namibia.

The ministry said that the international price of refined petroleum products declined in comparison to September 2020.

“The average international price for refined petrol was US$48.38 per barrel in August compared to US$46.99 in September 2020, while refined diesel cost US$48.45 per barrel in August compared to US$42.79 in September,” the minister said.

During the same period, the exchange rate between the Namibia dollar and the US Dollar strengthened.

“It appreciated, on average, from N$17.22 in August to N$16.62 in September,” the minister said.

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