Fuel prices remain unchanged for September
02 Sep 2019 18:00pm
WINDHOEK, 02 SEP (NAMPA) Fuel prices will remain unchanged for September, the Ministry of Mines and Energy has announced.
The ministry, in a media statement signed by Minister Tom Alweendo on Monday, stated that the global oil market remained favourably volatile to net importers of oil including Namibia, in that oil prices have fallen during the period under review.
It further said while oil prices have fallen, the exchange rate between the Namibian Dollar against the US Dollar depreciated significantly, from an average of N.dollars 14.04 in July 2019 to N.dollars 15 in August 2019.
The end results are minimal over-recoveries recorded, insufficient to warrant a price reduction, the statement said.
In Walvis Bay, 95 Octane Unleaded Petrol will remain at N.dollars 13.05 per litre and Diesel 50ppm at N.dollars 13.63 per litre.
Meanwhile, the ministry is increasing the fuel tax by 25 cents per litre effective as from 01 September 2019.