GOVERNMENT, through the National Energy Fund (NEF), can no longer afford to buffer consumers against high fuel prices and will therefore increase the litre price of petrol by between 19c and 20c on Wednesday, while pushing up the diesel price by 40c a litre.
The new price of 93 Octane Lead Replacement Petrol at Walvis Bay will be N$10,34 per litre, while 95 Octane Unleaded Petrol will be N$10,47 per litre. Diesel at Walvis Bay will cost N$11,04 a litre, Minister and Energy Minister Isak Katali said on Friday.
“Efforts were made for the past months not to pass the whole burden [of price increases] to consumers, thus a certain portion of the increasing under-recoveries were carried by the NEF. It is however not the case now, because the NEF accounts could not afford to subsidise much due to other pending commitments,” Katali said in a statement.