Namibian Minister of Mines and Energy Tom Alweendo on Tuesday announced price increase of petrol and diesel prices by 70 Namibian cents (4.9 U.S. cents) and 20 Namibian cents(1.4 U.S. cents) respectively.
He attributed the increase to surging demand in global oil market which rose by 37 percent.
“The most affected product in terms of this demand-driven sharp increase is gasoline (petrol). The average price per barrel for petrol jumped from 72 U.S. dollars in March, 2019 to an average of 80 U.S. dollars in April. Diesel slightly increased from an average of 80 U.S. dollars per barrel in March to an average of 82 U.S. dollars in April,” he said.
Alweendo added that after the increases T95 Octane Unleashed Petrol will now be 12.75 Namibian dollars (89 U.S. cents) per litre, and Diesel 50 PPM will be 13.33 Namibian dollars (93 U.S. cents).
He said the Road Fund Administration (RFA) has also increased its road users charges across the board effective from May 1. Enditem