Fuel prices up again

06 November 2018 | Energy

OGONE TLHAGE

Fuel prices will increase for the fourth time in as many months tomorrow.

The minister of mines, Tom Alweendo, yesterday announced that all diesel grades will increase by N$0.70 per litre, and petrol by N$0.50.

In Walvis Bay, diesel 500ppm will now retail for N$14.48 per litre while diesel 50ppm will retail for N$14.53 per litre. Unleaded petrol will cost N$13.95 per litre.

“Due to the fact that the cost of importing fuel was not fully passed on to the customers, all fuel prices have to be adjusted,” said Alweendo.

According to him, service station owners were also not getting a return on their investment. The ministry thus had to increase the industry margin by N$0.02 per litre.

This is the fourth consecutive fuel hike since July.

Fuel prices will not increase in neighbouring South Africa this month. That country’s Central Energy Fund has announced unchanged fuel prices figures for November, MyBroadband reports.

“The average international product prices of petrol decreased while diesel and illuminating paraffin increased during the period under review,” stated the CEF.

“The rand appreciated against the US dollar during the period under review, on average, when compared to the previous period.”

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