Fuel pump prices go up again...as downgrades weigh in on the ZAR/N$

December 1, 2017, 6:18pm

Namibia’s fuel pump prices will hike on the 6h of December 2017 as latest downgrades on Namibia and South Africa have weakened the two countries’ currencies while oil prices surged to US$73 for both petrol and diesel and petrol. 

This surge is US$5 higher than last month’s average of US$68 per barrel. 

This is a substantial increase within a short period of time and its impact on the price takers (oil-importing countries) is severe, mines and energy minister Obeth Kandjoze said.