Samuel Shinedima<\/p>\n
After the Ministry of Mines and Energy pronounced itself on the fuel price for the month of October yesterday that saw a reduction of N$1.00 in petrol price, diesel vehicle owners have now expressed concerns over the unchanged price for diesel.<\/p>\n
In September, petrol price decreased by N$1.20, while diesel decreased by N$0.65.<\/p>\n
The new fuel prices in Walvis Bay, effective from 5th October 2022, will now be N$20,08 per litre for petrol, while the diesel price remains at N$22,12 per litre. The rest of the country’s fuel prices will be adjusted accordingly.<\/p>\n
In a brief statement, the Ministry indicated that the reason for the unchanged diesel price is because diesel is under recoveries (losses) recorded on diesel for the period under review.<\/p>\n
The ministry further stated that as a result of the start of winter in Europe, the demand for diesel has increased \u2013 which in turn pushed up the price of diesel. Additionally, the reinstatement of the Roads Fund Administration (RFA) and Motor Vehicle Accident (MVA) levies are contributing factors.<\/p>\n
\u201cIn fact, diesel price was supposed to go up due to the under recovery but the Ministry saw it fit – to keep the price unchanged\u201d The statement reads<\/p>\n
The ministry further stated that it also decided to reinstate the road user charges and the Motor Vehicle Accident Fund (MVA) levy back to their original levels, while the National Petroleum Corporation of Namibia (NAMCOR) levy will remain at its current level until further notice.<\/p>\n
The adjustments of the fuel prices came after the ministry recorded a high over-recovery of N$2,34 per litre on petrol and a low under-recovery of about N$0,33 per litre on diesel.<\/p>\n
It was further established that the ministry’s latest calculations indicate that the average price for Unleaded Petrol 95 for the period of 1 to 23 September is at USD98,794 per barrel, compared to USD110,334 per barrel at the end of August.<\/p>\n
The Ministry recognises that the situation in the international oil market is steadily improving for the better, although geopolitical instability and market volatilities might continue to have an unwanted impact on local fuel prices,” statement reads.<\/p>\n
File photo for illustrative purposes only.<\/p>\n","protected":false},"excerpt":{"rendered":"
Samuel Shinedima After the Ministry of Mines and Energy pronounced itself on the fuel price for the month of October yesterday that saw a reduction of N$1.00 in petrol price, diesel vehicle owners have now expressed concerns over the unchanged price for diesel. In September, petrol price decreased by N$1.20, while diesel decreased by N$0.65. …<\/p>\n","protected":false},"author":10,"featured_media":326910,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-326909","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news"],"yoast_head":"\n