Fuel hike again

The Ministry of Mines and Energy has announced there will be an increase in petrol and diesel prices, effective from May 6. A media statement issued by the ministry said the price of octane unleaded petrol will increase by 40 cents, while diesel will go up by 20 cents. The new price of petrol will thus cost N$10.39 per litre, while diesel 500PPM will cost N$10.32 and diesel 50PPM will sell at N$10.42 per litre. “The Ministry of Mines and Energy received a request from the oil industry to consider adjusting the industry margin, as the cost of investment has escalated, and in this context the ministry resolved to increase the industry margin by 12 cents per litre on the prices of unleaded 95 and all grades of diesel. This adjustment is effective from May 6,” said the statement. Petrol and diesel pump prices at various inland destinations countrywide will be adjusted accordingly. The price of fuel also went up earlier this month. WINDHOEK STAFF REPORTER