Hertta-Maria Amutenja
The Ministry of Mines and Energy on Friday announced that petrol prices are set to increase by 70 cents per litre. Similarly, both types of diesel will increase by 40 cents per litre.
In Walvis Bay, the new prices will stand at N$23.00 per litre for petrol, N$22.17 per litre for diesel 50 ppm, and N$22.37 per litre for diesel 10 ppm.
The increases are slated to take effect in the first week of May.
The ministry stated that adjustments in fuel prices across other regions of Namibia will be made accordingly.
These changes come as the Ministry addresses under-recoveries in petrol and diesel products, amounting to 123.5 cents per litre for petrol, 60.2 cents per litre for diesel 50 ppm, and 51.2 cents per litre for diesel 10 ppm.
“Having, considered all the input factors mentioned above into the fuel pricing model, the Ministry noted under-recoveries on both petrol and diesel products, amounting to 123.567 cents per litre on petrol, 60.214 cents per litre on diesel 50ppm and 51.208 cents per litre on diesel 10ppm,” said the ministry.
Additionally, the ministry announced that the National Energy Fund will absorb the remaining under-recoveries, offering partial relief.
The temporary Relief Margin of 20 cents per litre for oil importers will be extended for another six months or until the Petroleum Import Coordination System is implemented or reviewed.
