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Fuel prices to increase again in February

Fuel prices to increase again in  February

Fuel prices for both petrol and diesel will increase as from 2 February, the Ministry of Mines and Energy  announced on Thursday.

Petrol prices will increase by 30 cents, diesel will increase by 40 cents and the new fuel prices in Walvis Bay will become N$15.95 per litre for petrol and N$15.98 for diesel.

“In support of the above, the National Energy Fund will finance the full under-recovery amount recorded for January amounting to approximately N$67 million,” ministry spokesperson Andreas Simon said, adding that fuel prices will be adjusted accordingly countrywide.

According to Simon the fuel hike is the best decision possible and the ministry is fully aware of the inflationary pressure that fuel price increases puts on prices of other goods and services.

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