Fuel prices to increase again on Wednesday

05 Nov 2018 16:50pm
WINDHOEK, 05 NOV (NAMPA) – The Ministry of Mines and Energy has announced yet another fuel price increase.
The ministry in a media release on Monday said 95 Octane Unleaded Petrol will increase by 50 cents and all grades of diesel by 70 cents as from 00h01 on Wednesday.
“Due to the fact that the cost of importing fuel into the country in September was not fully not fully passed on to the consumers, fuel pump prices have to be adjusted,” the statement said.
The increase will bring fuel pump prices in Walvis Bay for unleaded petrol to N.dollars 13.95 per litre; while diesel 500 parts per million (ppm ) will increase to N.dollars 14.48 per litre and diesel 50ppm to N.dollars 14.53 per litre.
The statement further said the ministry is cognisant of the fact that fuel prices have been increasing for the past few months, but the ministry has not been passing on the full increases to the consumers.
“Over the past few months, more than N.dollars 470 million has been spent from the National Energy Fund to fund the fuel increases,” it said.
Fuel prices have gone up since June after remaining unchanged from January this year, except for May when only the price of diesel rose.