Fuel prices to remain unchanged in April
The Ministry of Mines and Energy, through the National Energy Fund decided to finance under recoveries in the global oil market, keeping local fuel prices unchanged for April.
This means that prices for 95 octane unleaded petrol will remain at N$12.05 per litre while diesel 50ppm prices will remain at N$13.13 per litre.
According to the statement released by the ministry this week, international oil market results indicate that the average oil barrel prices for refined oil as well as the average exchange rate values have increased from the final values recorded last month. A petrol barrel traded at about N$1 044 (N$911 in February) while a diesel barrel traded at N$1 158 (N$1 063 in February).
“The National Energy Fund, which manages the State Account for fuel price stabilization purposes, is in a healthy financial position, and the ministry has thus resolved to finance the entire under recovery amounts on behalf of fuel consumers,” said the Minister of Mines, Tom Alweendo.