Fuel prices to remain unchanged for February
02 Feb 2018 13:50pm
WINDHOEK, 02 FEB (NAMPA) Fuel prices will remain unchanged for February, the Ministry of Mines and Energy has announced.
The ministry, in a media statement issued by its minister, Obeth Kandjoze on Friday stated that the basic fuel price unit rate slate calculations for the past month recorded a combination of minor over and under-recoveries on the price regulated petroleum products.
The over and under-recoveries recorded are not sufficient to trigger any adjustment in local pump prices, Kandjoze said.
The average exchange rate fell from N.dollars 13.14 to about N.dollars 12.26 per US Dollar over the period reviewed.
The appreciation of the Namibian Dollar against the US Dollar has kept the balance between the regulated prices and the market prices in tact.
Thus, fuel pump prices in Walvis Bay will remain as follows: 95 Octane Unleaded Petrol will remain at N.dollars 11.70 per litre; Diesel 500 parts per million (ppm) will stay N.dollars 11.73 per litre and Diesel 50ppm, N.dollars 11.78 per litre.