MOTORISTS can look forward to not paying a cent more for petrol this month, announced the Ministry of Mines and Energy yesterday.
"Fuel prices in January will remain unchanged. There has never been any oil shock or tension throughout December, hence the global oil prices have been relatively low, helping the local market to pull through the festive season with slight over-recoveries at the end of the month," said mines and energy minister, Isak Katali.
He said the market is expected to stabilize in the months ahead in terms of demand and prices will therefore most probably stabilise.
Pump prices at Walvis Bay will remain as follows: 93 Leaded replacement petrol will sell at N$10, 34 per litre. Unleaded 95 petrol will sell at N$10,47 per litre and diesel at N$11,04 per litre. Pump prices at various inland destinations across the country are expected to remain the same.
In June last year, petrol prices dropped by 27 cents a litre and by 12 cents a litre for diesel. During this time, the Walvis Bay pump for 93 Octane Leaded Replacement Petrol sold at N$10,03 per litre, while 95 Octane Unleaded Petrol costed N$10,15 per litre. Diesel sold at N$10,36 per litre wholesale.
In Windhoek, 93 Octane costed N$10,25 a litre, 95 Octane N$10,37 a litre and diesel N$10,59 a litre.
October last year, however, petrol prices were pushed up by 19 cents a litre and diesel prices by 26 cents. This was due to oil markets which have "defied logic" in the second part of 2012. This drove up the pump price at Walvis Bay of 95 Octane Unleaded Petrol to N$10,27 a litre, while 93 Octane Lead Replacement Petrol costed N$10,15 a litre. Diesel sold at N$10,64 per litre.
The last increase was in November last year when fuel prices upped between 19 and 20 cents a litre and diesel increased by 40 cents a litre. The 93 Octane Lead Replacement Petrol at Walvis Bay was N$10,34 per litre, while 95 Octane Unleaded Petrol was N$10,47 per litre. Diesel at Walvis Bay sold at N$11,04 a litre.