DIESEL car owners will be happy to know that the price of diesel will as of next week Wednesday decrease by 40 cents per litre.
This was announced by the mines and energy ministry.
Petrol pump prices will, however, remain unchanged.
According to the energy ministry’s spokesperson, Andreas Simon, a combination of over-recovery and under-recovery was recorded during the month of September.
“An under-recovery of 3.854 cents/litre was recorded on petrol while 50ppm Diesel recorded an over-recovery of 62.600 cents per litre. Compared to last month when only under-recoveries were recorded, the situation has improved,” Simon said.
The decrease, he said, was influenced by a number of factors like the strengthening of the exchange rate between the Namibia Dollar against the US Dollar during September.
The international price of the refined petroleum products declined in September, in comparison to the previous months.
“The average international price for refined petrol was US$ 48.38 per barrel compared in August to US$ 46.99 in September 2020, while that of Diesel was US$48.45 per barrel in August compared to US$ 42.79 in September. Moreover, freight bas slightly increased during the period under review. The cost of shipping product was 91% above flat freight rates in September compared t9 74 percent in August, ” Simon stressed.