Fuel prices remain unchanged for January
06 January 2021 | Energy
The ministry of mines and energy has announced that fuel pump prices will remain unchanged countrywide for January due to the effects of the Covid-19 pandemic on the economy.
The ministry said its fuel review committee decided to keep prices unchanged this month to avoid placing an additional burden on consumers.
“The ploughing season is upon us and diesel is one of the petroleum products largely used by the agricultural sector. Moreover, our economy is still limping in the Covid-19 climate, thus it is not the government’s intention to place an additional burden on consumers,” the statement read.
Pump prices at Walvis Bay will remain N$11.38 per litre for diesel, while the petrol price will remain N$11.35 per litre.
According to the statement, local fuel pump prices were influenced by the international price of refined oil, the US dollar exchange rate during December, and under-recoveries recorded on both petrol and diesel.
The ministry said the under-recoveries will be financed from the National Energy Fund instead of being passed on to the consumer.