Diesel goes up in November while petrol stays the same
The Ministry of Mine and Energy on Monday announced that diesel prices will increase by N$1.98 per litre while petrol prices will remain unchanged.
The new fuel prices in Walvis Bay will thus become N$ 24.10 per litre for diesel and will remain N$20.08 per litre for petrol.
The diesel prices across the rest of the country will also be adjusted accordingly. These adjustments will become effective at 00h01 on 2 November.
“The Ministry will continue to set fuel prices at a level which is reflective of oil market dynamics to ensure the security of fuel supply in the country,” MME spokesperson Andreas Simon said in a statement.
According to Simon, the public must take note that following the recommendation and advice of the Ministry of Finance, the road user charges and the MVA levy were reinstated back to 148 cents per litre and 50.3 cents per litre. respectively on 5 October.
“This has also placed additional pressure on the local fuel prices that are paid by consumers at the pumps. Therefore, after entering the above input factors into the fuel pricing model, the Ministry recorded a combination of a low over-recovery on petrol and a high under-recovery on diesel, namely an over-recovery of 13 cents per litre on petrol and an under-recovery of about 260 cents per litre on diesel,” he said.
