Fuel price increase announced
01 February 2021 | Ministries
The ministry of mines and energy announced a significant increase of 50c per litre for both petrol and diesel prices fuel pump prices at the port of entry (Walvis Bay) will now be N$11.85 per litre for petrol and N$11.88 for diesel.
These changes will take effect at 1 minute past midnight on 3 February 2021.
The ministry said that this increase is due to the weak trading of the Namibia dollar (N$) on the international stock market as well as the increase in diesel and fuel prices on the international market mainly due to supply cuts by OPEC’s biggest producer.
The price per barrel of petrol increased from roughly U$52.74 to U$59.18 while diesel increased from U$54.47 to roughly U$58.85 in the period under review.
The ministry also declared an under-recovery of 102 cents on petrol and 105 cents on diesel.
These changes will take effect at 1 minute past midnight on 3 February 2021.
The ministry said that this increase is due to the weak trading of the Namibia dollar (N$) on the international stock market as well as the increase in diesel and fuel prices on the international market mainly due to supply cuts by OPEC’s biggest producer.
The price per barrel of petrol increased from roughly U$52.74 to U$59.18 while diesel increased from U$54.47 to roughly U$58.85 in the period under review.
The ministry also declared an under-recovery of 102 cents on petrol and 105 cents on diesel.
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