Fuel prices remain unchanged in August
01 Aug 2014 17:00pm
WINDHOEK, 01 AUG (NAMPA) The price of petrol will remain unchanged, while diesel prices will decrease as of 06 August 2014.
The Ministry of Mines and Energy (MME) announced in a media statement on Thursday that crude oil prices were not affected by the geo-political events of Iraq, Ukraine and Gaza, and global oil supplies remained ample.
Mines and Energy Minister Isak Katali was quoted in the statement as saying that the exchange rate between the Namibian dollar and main international trading currency the US dollar had weakened slightly, partly making imports expensive but not enough to increase the cumulative cost of bringing oil to the Namibian shore.
This has led to a slight under-recovery on the petrol grade and over recoveries on all diesel grades in the local oil industry in the period under review, he said.
Thus, 95 Octane Unleaded Petrol remains at N.dollars 12,29 per litre countrywide.
Diesel 500 parts per million (ppm) will be decreased from N.dollars 12,62 to N.dollars 12, 42 per litre, and Diesel 50ppm will be adjusted from N.dollars 12,72 to N.dollars 12, 52 per litre in Walvis Bay.