Diesel price to increase Wednesday

WINDHOEK, 30 APR  – The price of diesel will on Wednesday increase by 30 cents per litre, Minister of Mines and Energy, Tom Alweendo announced on Friday.
The Walvis Bay price for Diesel 500 parts per million (ppm) and Diesel 50 ppm will increase by 30 cents per litre (wholesale) to cost N.dollars 12.07 per litre and N.dollars 12.08 per litre, respectively.
The price for 95 Octane Unleaded Petrol remains unchanged at N.dollars 11.70 per litre, according to the ministerial statement.
Alweendo said refined oils picked up in the month of April, hovering above US.dollars 80 (approximately N.dollars 992) for both petrol and diesel, which led the cost of fuel locally to escalate by a large margin and to huge under-recoveries especially on diesel grades.
Petrol also pulled through the month of April with relatively smaller under-recoveries which the National Energy Fund would subsidize, Alweendo said.
He added the Namibia Dollar also depreciated against the US dollar in which oil is traded, therefore oil companies had to pay more to deliver fuel to the country’s shores compared to the previous month.
Ondangwa was in April 2018 declared a ‘fuel pricing town’ and the cost implications include the transport cost of fuel by railway to that town from Walvis Bay and the price being adjusted from the rate applicable to Tsumeb, from where all northern towns are supplied.
The new rates applicable to Ondangwa warrant an adjustment of nine cents per litre (c/l) and 10 c/l for diesel and petrol, respectively from Wednesday.

NAMPA