Motorists to fork out more, as fuel prices for July increase
Fuel prices for July will increase following a review of global oil prices, an official from the Ministry of Mines and Energy (MME) said last week Friday.
MME senior public relations officer, Andreas Simon said: “the Ministry recorded huge under-recoveries on the two respective products, which is 188 cents per litre on petrol and 134 cents per litre on diesel. This is due to increases in oil prices per barrel and the costs of shipping oil. The Ministry is thus required to make further adjustments to the fuel prices, to ensure pricing equilibrium in the two markets, international and local.”
He said that petrol prices will increase by N$1.88 per litre and diesel prices will increase by N$1.34 per litre.
“The new fuel prices in Walvis Bay will thus be N$22.28 per litre for petrol and N$22.77 per litre for diesel,” he added.
The fuel prices for the rest of the country will also be adjusted accordingly, and come into effect from July 6.