Namibia: Petrol, Diesel Prices to Drop This Festive Season

IF you wait until tomorrow to fill up your tank, your bill will be 20 cents less for a litre of diesel and 30 cents less for petrol.

It is said a good festive season always comes with gifts and this December, the energy ministry has announced that fuel pump prices will decrease, effective tomorrow.

The decrease will put pump prices at Walvis Bay at N$11,35 a litre for petrol and N$11,38 for diesel.

Andreas Simon, the ministry's spokesperson, said it was observed that there was a weakening of the US dollar against the Namibia dollar, and minor fuel price fluctuations at international level.

These factors all contribute to determining fuel prices in Namibia, and the recent review playing out in favour of Namibian road users.

"... it was cheaper for importers to bring fuel to Namibia over the course of November, which led to over-recoveries. . . . the ministry thus resolved to decrease the price of petrol and diesel," said Simon when announcing the reviewed prices.

He said apart from the adjustment, the ministry also resolved to adjust the industry margin on all products for fuel importers by 5 cents a litre - from 103 cents to 108 cents.

"This adjustment was necessitated after the annual assessment of assets and income value levels for wholesale fuel importers ..," said Simon.

This means fuel wholesalers were making less profit on fuel - hence the increase.

Compared to neighbouring countries, Angola remains the best country to own a car, simply because it is an oil exporting country. Diesel there is at N$3,21 a litre, while petrol is at N$3,60.

Botswana prices are also better than Namibia at N$11 for a litre of diesel while petrol is at N$10,70. South Africa's prices are, however, hiked - diesel there is at N$14,06 a litre, while petrol is at N$14,22.

Email: [email protected] | Twitter: @Lasarus_A

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