National Energy Fund (NEF) – Windhoek Observer

31 May

All-time high fuel increases

ObserverNational NewsAll-time high fuel increases, Kornelia Shilunga, Ministry of Mines and Energy, National Energy Fund (NEF)

Obrein Simasiku Namibian motorists will have to dig deeper into their inflation hit pockets to pay more for their full. Fuel pump prices have reached historic highs after the Ministry of Mines and Energy announced an exponential increase in fuel, whereby petrol will cost N$2.50 more and diesel is adjusted by N$1.50, effective 1 June. This will be an all-time high adjustment that will see pump stations at Walvis Bay shoot up to N$20.40 in petrol and N$21.43 diesel, which means across the country, it is estimated to cost over N$22 and N$23, respectively. The ministry recorded a huge under-recovery…

Another fuel price hike….Hard times ahead

ObserverUncategorisedAnother fuel price hike….Hard times ahead, Energy Kornelia Shilunga, National Energy Fund (NEF)

Martin Endjala Petrol and diesel prices have jumped for a third month in a row effective from 6th of April 2022. The astronomical hikes will see petrol trading at N$1.95 cent and diesel at N$2.95 cent per liter respectively at the pumps. This translates into the petrol price at Walvis Bay increasing to N$19.10 cent per liter diesel retailing at N$20.23 cent. This current high prices have never been experienced in Namibia’s recent past even during the most difficult of global or local economic downturns. The Deputy Minister of Mines and Energy Kornelia Shilunga in her announcement today said that…

Fuel prices reach historic highs

ObserverUncategorisedAndrease Simo, Fuel prices reach historic highs, National Energy Fund (NEF)

Tujoromajo Kasuto Oil prices have risen to the highest historical levels because of rising global oil prices fuelled by the war between Russia and Ukraine. Non-oil producing countries such as Namibia are price-takers and can only adjust their prices according to the prevailing prices. Crude prices jumped to just over 100 US dollars a barrel the highest since 2014 after Russia invaded Ukraine last week. Andrease Simon, spokesperson for the Ministry of Mines and Energy, says that while current oil prices appear to be unsustainable, the Namibian nation must remain strong to survive because it has found itself in a…