WINDHOEK, JAN 28 – Fuel prices will increase from the beginning of February, which will see petrol prices increase by 30 Namibian cents per litre, while diesel prices will increase by 40 Namibian cents per litre, the Ministry of Mines and Energy announced yesterday.
Ministry Spokesperson Andreas Simon said: “The new fuel prices in Walvis Bay will become N$15.95 per liter for petrol and N$15.98 per liter for diesel. The prices across the rest of the country will also be adjusted accordingly. These adjustments will become effective at 00h01 on 2nd of February 2022.”
A high instability in the global oil market was attributed to the price increase as Simon highlighted an increase of over 10 USD per barrel in a short period of time.
“These increase have unfortunately led to an increase in the import parity price of petroleum products to the Namibian shore. The impact of a stronger Namibian dollar was, however, outweighed by the increases in the cost per barrel as well as the costs of shipping petroleum products which pushed upwards as per the calculations by the Ministry.” – firstname.lastname@example.org