THE financial burden on consumers during January 2020 will be little less severe with fuel prices set to remain unchanged for the next month.
In a statement issued by the Ministry of Mines and Energy the Executive Director, Simeon Negumbu, points out that it will be the seventh consecutive month that the fuel price will remain unchanged. Negumbo said that upward adjustments of fuel prices were definitely warranted in the preceding months but that it was kept constant to assist the economy to get back on its feet and to assist consumers with avoiding the additional burden associated with price hikes.
According to Executive Director the ministry has observed an increased use of diesel products in some parts of Namibia due to renewed agricultural activity currently underway.
“Although the country has been struggling with a vicious and prolonged drought for the whole year, the recent good rains around the country shows a positive outlook for farmers,” Negumbo said.
He stated further that the ministry has taken a conscious decision not to increase the cost of fuel at the pumps to allow farming activities to continue unhindered although it would be costly in terms of subsidising under-recoveries.
“As a result the additional cost incurred in the importation of fuel into of fuel into Namibia during December 2019 will be borne by the National Energy Fund.”
In this regard the fuel pump prices at Walvis Bay will remain at N$13.05 per litre for 95 Octane Unleaded Petrol and N$13.63 per litre for 50ppm Diesel.