The Mines and Energy Ministry announced that the fuel pump prices for December will remain unchanged unchanged, after the global oil market supply and demand remained relatively steady throughout the month of November.
The price for 95 Octane Unleaded Petrol will stay at N$13.05 per litre, while, Diesel 50ppm will remain at N$13.63 per litre.
The Minister Tom Alweendo said the stability in fuel prices is expected to contribute meaningfully to the many economic activities that are usually rife during the end of the year festive season.
"The National Energy Fund is financially stable and will absorb these moderate under-recoveries on behalf of consumers. It is estimated that the subsidy will be in excess of N$ 30 million," Alweendo said.