THE Ministry of Mines and Energy has announced fuel price increases with effect from 00h01 on 6 July 2022.
According to a media statement issued by a senior public relations officer in the ministry, Andreas Simon on Friday, July 01, 2022, the price of petrol will increase by 188 cents per litre and that of diesel will increase by 134 cents per litre.
“The new fuel prices in Walvis Bay will thus be N$22.28 per litre for petrol and N$22.77 per litre for diesel,” the statement said.
The ministry said it had incurred huge under-recoveries on the two respective products of 188 cents per litre for petrol and 134 cents per litre for diesel.
“This is due to increases in all prices per barrel and the costs of shipping oil,” the statement said.
“It must be noted that the National Energy Fund will cover the entirety of the under-recoveries recorded between 01-30 June 2022 on behalf of fuel consumers through the fuel equalization levy. This is approximately N$142 million,” said the ministry.