Petrol price to decrease by N$1 this week
The price of petrol will decrease by N$1 per litre, while the diesel price will remain unchanged on 05 October, the Ministry of Mines and Energy announced.
The new fuel prices will become N$20.08 per litre for petrol and will remain N$22.12 per litre for diesel.
This comes as the ministry recorded a combination of a high over-recovery on petrol and a low under-recovery on diesel, namely an over-recovery of N$2.34 cents per litre on petrol and an under-recovery of about N$0.33 cents per litre on diesel.
“The ministry recognises that the situation in the international oil market is steadily improving for the better, although geopolitical instability and market volatilities might continue to have an unwanted impact on local fuel prices,” the ministry stated.
In addition, the ministry has also resolved to reinstate the road user charges and the MVA levy back to their original levels while the NAMCOR levy will remain at its current level until further notice.
