Fuel prices remain unchanged

04 January 2021 | Ministries

Fuel pump prices remain as is this month, despite under-recoveries on petroleum products by the ministry of mines and energy in December 2020.

Fuel pump prices at Walvis Bay will remain at N$11,38 per litre of diesel and N$11,35 per litre of petrol.

“In December 2020, the international price of refined petroleum products increased in comparison to the previous months,” the ministry said in a statement. “The average international price for refined petrol was U$51,82 per barrel in December compared to U$44,15 in November 2020; while that of refined diesel was US$53,53 per barrel in December compared to U$44,79 in December.”

The appreciation of the Namibia dollar to the US dollar helped to keep the under recoveries at an acceptable level.

The ministry said that under-recoveries will be claimed from the National Energy Fund (NEF), adding that it is not in their best interest to hinder an economy that is already limping after the effects of Covid-19 with an increased fuel rate.

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