Namibia’s Ministry of Mines and Energy (MME) Friday announced that fuel prices of both petrol and diesel will increase by 30 Namibia cents(2 U.S. cents), bringing the petrol to 14.45 Namibia dollars per liter and diesel to 14.18, effective on Oct. 6.
Last month in September, the price of the prices of petrol increased by 60 cents per liter, while diesel increased by 30 cents per liter.
MME spokesperson, Andreas Simon said the decision was made because an under-recovery of 48.975 cents/liter was recorded on petrol while diesel recorded an under-recovery of 37.809 cents/liter.
“Owing to a series of events, first of which was a hurricane storm in the Gulf of Mexico, then uncertainties around the outcome of OPEC-plus meetings, and lastly the looming global energy crunch, international prices for refined petroleum products, have been fluctuating significantly during the period under review,” Simon added. Enditem