Staff Reporter
THE Ministry of Mines and Energy has announced that diesel and petrol prices for December will remain unchanged.
In a statement, the ministry revealed that recent calculations show the average price of Petrol 95 in November was USD 83.974 per barrel, reflecting a 2.8% decrease compared to October 2024. The price of Diesel 50ppm was USD 89.008 per barrel, a 2.4% increase, while Diesel 10ppm stood at USD 89.128 per barrel, a 2.3% increase compared to October 2024.
“After analyzing the results of the aforementioned input factors and other parameters, the fuel pricing model recorded an over-recovery of 26.746 cents per litre for petrol and under-recoveries of 43.790 cents per litre for Diesel 50ppm and 35.154 cents per litre for Diesel 10ppm. Considering these developments and the need to shield consumers from price volatilities, the ministry announces that petrol prices and diesel prices for both variants (50ppm and 10ppm) will remain unchanged.
“In Walvis Bay, the price of petrol will remain at N$20.25 per litre, Diesel 50ppm at N$19.72 per litre, and Diesel 10ppm at N$19.82 per litre.
“In conclusion, the ministry remains hopeful that the market will continue to improve and be favorable, particularly for net fuel-importing countries like Namibia,” the statement concluded.
