Fuel prices unchanged

04 December 2019 | Energy

Fuel pump prices in Walvis Bay for 95 Octane Unleaded Petrol amount to N$ 13.05 per liter and that of Diesel 50 ppm is N$ 13.63 per liter.

Minister Tom Alweendo said that the global oil market supply and demand remained relatively steady throughout the month of November 2019.

There were no major disruptions in the market and this has kept the prices of refined oil at relatively stable levels.

Barrel prices for both Unleaded Petrol 95 and Diesel 50 ppm traded at daily averages ranging from about USD 69 to USD 77.

This range compares equally to the range recorded during the last review of fuel prices back in October.

Similarly, the exchange rate between the N$ and the USD did not fluctuate much throughout the month of November.

On average the N$ only gained minimal value against the U$, that is from N$ 14.88 in October 2019 to N$ 14.80 per USD for the period under review. This slight appreciation implies exchange rate and fuel price stability.

The under-recoveries per product on the Basic Fuel Price (BFP) import parity landed in Walvis Bay as calculated at 25 November 2019 stood at 95 Octane Unleaded Petrol - (31.716) c/l and Diesel 50ppm - (9.212) c/l.

The minister also pointed out that under-recoveries usually call for an increase in fuel pump prices to fulfil fuel supplier cost recovery purposes.

However, the National Energy Fund is financially stable and will absorb these moderate under-recoveries on behalf of consumers. It is estimated that the subsidy will be in excess of N$ 30 million.

The ministry therefore will keep fuel pump prices for the month of December 2019 unchanged. The stability in fuel prices is expected to contribute meaningfully to the many economic activities that are usually rife during the end of the year festive season.

Similar News

 

Global transition to clean power discussed

1 week ago - 13 January 2021 | Energy

The virtual COP26 Roundtable on Clean Power Transition, under the theme “Achieving a rapid shift to green, affordable and resilient power systems” was held amid...

Kersfees kom vroeg met laer brandstofpryse

1 month - 01 December 2020 | Energy

Goeie nuus vir motoriste is dat die pryse van petrol en diesel volgende week daal.Volgens die woordvoerder van die ministerie van myne en energie, mnr....

Diesel price adjustment a welcome relief

3 months ago - 02 October 2020 | Energy

Swakopmund • [email protected] secretary general of the Namibia Transport and Taxi Union (NTTU), Werner Januarie, welcomed the adjustment in diesel fuel pump prices “It...

Fuel prices up again

4 months ago - 02 September 2020 | Energy

Fuel prices have been increased for the month of September in light of the economic plummet accompanying the Covid-19 pandemic, the ministry of mines and...

No electricity tariff increases for Erongo

5 months ago - 04 August 2020 | Energy

Walvis Bay Erongo RED announced a weighted average tariff adjustment of -1.6% in compliance with approval from the Electricity Control Board (ECB). This is...

Filling up to cost more

5 months ago - 03 August 2020 | Energy

Fuel pump prices will increase countrywide at midnight on Wednesday (5 August), with the price of petrol increasing by 100 cents per litre and the...

Fuel prices remain unchanged for July

6 months ago - 30 June 2020 | Energy

Fuel pump prices in Walvis Bay (port of entry) will remain N$10.35 per litre for Petrol and N$11.13 per litre for Diesel respectively the minister...

Dundee Precious Metals Tsumeb reaffirms support to the Tsumeb...

9 months ago - 09 April 2020 | Energy

Dundee Precious Metals Tsumeb reaffirmed its support to the Tsumeb community by improving the preparedness levels of the Tsumeb District hospital should the COVID-19 virus...

Erongo RED donates N$1 million

9 months ago - 07 April 2020 | Energy

Walvis Bay • [email protected] Erongo RED has availed N$1 million to the Covid-19 pandemic fight within the region. Chief executive Fessor Mbango said that N$200...

N$120 miljoen. se

1 year - 15 October 2019 | Energy

Arandis • Adolf KaureVisepresident Nangolo Mbumba het onlangs Sertum Ener­gy Namibia se N$120 miljoen-sonkragaanleg by Orano se Trekkopje-myn ingewy. Die 5 megawatt- fotovoltaïese aanleg lê...

Latest News

More than 260 grade 1’s...

15 hours ago | Education

Walvis Bay • [email protected] According to the regional director of education in Erongo, Enfrieda Stephanus, there are still 263 grade one learners who have...

Henties verhaal waterskuld

16 hours ago | Local News

Hentiesbaai • [email protected] Die munisipaliteit van Hentiesbaai het inwoners met agterstallige waterrekeninge versoek om reëlings te tref om hul skuld te vereffen. Volgens...

Triathletes go for gold

16 hours ago | Sports

Swakopmund • [email protected] The Namibian Triathlon Federation (NTF) hosted the RMB Triathlon at Platz Am Meer in Swakopmund on Saturday. Julika Pahl and Divan...

More heartache for Otweya residents...

1 day - 24 January 2021 | Disasters

Walvis Bay While many in the country are rejoicing about the recent rains, the Otweya “tent town” residents have been drenched in more...

Die kaf van die koring

1 day - 24 January 2021 | Health

Windhoek ∙ [email protected] “Die entstof plaas ’n mikroskyfie in jou lyf en Bill Gates gaan jou en jou doen en late met ’n valkoog...

Henties munisipale werker toets positief...

1 day - 24 January 2021 | Health

Hentiesbaai • [email protected] Die munisipaliteit van Hentiesbaai is op 22 Januarie gesluit na ‘n personeellid positief getoets het vir Covid-19. Volgens Elizabeth Coetzee, die...

Assaulted fire fighter in...

1 day - 24 January 2021 | Disasters

Walvis Bay • [email protected] The head of the Walvis Bay Fire Brigade, Dennis Basson says the firefighter who was injured while extinguishing a fire...

Why is your home not...

1 day - 24 January 2021 | Politics

The property market is experiencing a boom of activity, particularly in the first-time buyers’ market. Yet, despite high levels of interest, many parts of the...

Mini bus collides with train

1 day - 24 January 2021 | Accidents

A minibus collided with a train at a level crossing in Omaruru near Omaruru Primary School on Friday at about 20:40.Steven Uirab (49) the driver...

Load More