Fuel prices up this week

04 July 2016 | Energy

Fuel prices will go up again on Wednesday, the Ministry of Mines and Energy has announced.
As of Wednesday at 00h01, the new pump prices at Walvis Bay for 95 Octane unleaded petrol will be N$10.94 per litre.
That is a 30 cents per litre increase in the retail price, while the wholesale price of all grades diesel will rise by 50 cents per litre.
That leaves diesel 500ppm at a Walvis Bay pump price of N$10.62 per litre, while diesel 50ppm will rise to N$10.67 per litre. In announcing the new prices, Minister of Mines and Energy Obeth Kandjoze said global oil inventories had dropped by 10 million barrels since May, resulting in higher pricing for all regulated hydrocarbons.
This, in turn, resulted in under-recoveries in the ministry’s June calculated Basic Fuel Price (BFP) unit rate slate calculations.
“The under-recoveries recorded are sufficient to trigger an increase in local pump prices,” Kandjoze said.
“However, the National Energy Fund will have to absorb about N$0.04 per litre for ULP95 (unleaded petrol), and N$0.28 per litre for both diesel grades of these under-recoveries by compensating fuel importers, to spare motorists the full cost of the price increase,” he said.

STAFF REPORTER

Similar News

 

NamPower draws the line

3 weeks ago - 02 February 2017 | Energy

NamPower has given notice that it will cut the power supply to at least eight towns and villages, and a further 40 small settlements. ...

Okatope substation installation complete

1 month - 29 December 2016 | Energy

NamPower technicians installed the new Okatope substation on Saturday, according to its spokesperson Tangeni Kambangula.Said Kambangula: “the damaged transformer has since been replaced with a...

Monju nuclear canned

2 months ago - 20 December 2016 | Energy

Once touted as a 'dream reactor', the Monju facility was designed to generate more fuel than it consumes via nuclear chain reaction, an attractive alternative...

Green power brings money and jobs

2 months ago - 01 December 2016 | Energy

The Environmental Investment Fund of Namibia (EIF) signed a letter of intent with the French Agency for Development (AFD) worth N$675 million over a three-year...

Arandis welcomes solar power plant

2 months ago - 28 November 2016 | Energy

Arandis Solar Energy announced its planned construction of a three-megawatt solar energy plant in the town last week. The plant will supply electricity to ErongoRED...

Wind farm becomes reality

3 months ago - 22 November 2016 | Energy

The notoriously windy town of Lüderitz will be home to the country''s first wind farm, which is scheduled for completion by the middle of next...

Major power crisis averted

4 months ago - 10 October 2016 | Energy

The Ruacana hydropower station was at risk of suffering substantial damage in April this year, which could have led a to a major power crisis...

NamPower probes power outage

7 months ago - 23 July 2016 | Energy

Power utility, NamPower, has a released a statement regarding the power failure experienced across the country on Friday evening. "NamPower wishes to inform the public...

Nampower, Greenam deal adds 20 MW to grid

7 months ago - 14 July 2016 | Energy

Namibia’s national energy utility continues to make strides in its efforts to secure national electricity supplies, yesterday signing its second major agreement with independent power...

Fuel prices up this week

7 months ago - 04 July 2016 | Energy

Fuel prices will go up again on Wednesday, the Ministry of Mines and Energy has announced.As of Wednesday at 00h01, the new pump prices at...

Latest News

Robber assaults sleeping baby

14 hours ago | Crime

JESSICA BOTES A Swakopmund mother of twin babies is the latest victim of a string of violent burglaries in Swakopmund.At approximately 03:50 on Wednesday, a...

Rosh Pinah Zinc workers want...

14 hours ago | Labour

Workers at the Rosh Pinah Zinc Mine have given management four working days to remove its employee relations specialist, Angeline Barnard-Hagen, or face “unforeseen action”.In...

Land activists say they won't...

14 hours ago | Politics

The Landless People's Movement has indicated its intention to approach the ombudsman to compel the land reform ministry to release its version of the resettlement...

Union wants non-compliant retailers to...

14 hours ago | Labour

The Namibia Wholesale and Retail Workers Union (NWRWU) has demanded that the minister of labour call retailers that exploit workers to order. The union claims...

Hoff guilty of attempted murder...

14 hours ago | Crime

Susanne Hoff (56) was found guilty of the attempted murder of her estranged husband, Egbert Hoff, by the Windhoek Regional Court yesterday.Hoff, who pleaded not...

Ondonga backs Nangolo to succeed...

14 hours ago | Cultural

The Ondonga Traditional Authority on Tuesday affirmed that Fillemon Shuumbwa Nangolo is the Ondonga king-in-waiting.The OTA said in a statement that King Immanuel Kauluma Elifas...

Dineo storms onto bucket list

14 hours ago | Disasters

When you plan a sunny Mozambican holiday in February, the last thing you expect is to be caught up in a cyclone. (Well, maybe we...

The 2017 Budget should demonstrate...

14 hours ago | Opinion

BY MALLY LIKUKELA As preparations for the 2017 National Budget gather momentum and a greater participation by various stakeholders becomes evident. The budget is...

I am a foolishly wise...

14 hours ago | Opinion

I have always been fascinated by the manner in which the Police in United States of America, in cities like New York, Los Angeles or...

Load More