Namibia: Fuel Prices Go Up

The price of petrol increased by N$1.52 per litre, while both diesel grades will increase by 72 cents per litre, effective Wednesday, the Ministry of Mines and Energy announced.

The ministry in a statement said that the price of petrol at the pump in Walvis Bay will be N$22.30, diesel 50 ppm will be priced at N$21.77, and diesel 10 ppm will cost N$21.9.

Fuel prices across the regions in the country will be adjusted accordingly, Ithindi added.

“Global oil prices are experiencing an upward trend due to a reduction in oil supply brought about by geopolitical tensions in major oil markets, fewer operational drilling rigs, and uncertainty surrounding oil production,” he said.

Namibia, as an oil-importing country, is exposed to developments in international oil market prices, he added, noting that volatility in the supply and demand of fuel in global oil markets has a notable impact on local fuel prices.