A notable decrease in petrol and diesel prices will take effect from 6 December, the Ministry of Mines and Energy on Tuesday announced.
Petrol prices will undergo a reduction of 130 cents per litre, while both variants of diesel, namely diesel 50ppm and diesel 10ppm, will experience the same price drop.
Following this adjustment, in Walvis Bay, petrol will cost N$21.58 per litre, diesel 50ppm will be priced at N$21.85 per litre, and diesel 1 Oppm will stand at N$22.05 per litre.
However, alongside this positive news, the ministry has also declared an increase in the Road Fund Administration levy. The levy will witness a rise of 20 cents per litre, moving from the existing 178 cents per litre to 198 cents per litre across all fuel products. This modification is scheduled to take effect from 6 December 2023, at 00h01.
The decision to adjust the Road Fund Administration levy stems from considerations regarding recoveries and the crucial need for maintaining road infrastructure within the country.
Expressing satisfaction with the improved market conditions benefiting Namibia as a price-taker, the ministry highlighted this decrease in domestic fuel prices as a reflection of these favorable conditions.
In closing, the ministry extended warm wishes to all Namibians, fuel consumers, and other stakeholders for a delightful festive season and a prosperous year ahead in 2024, urging everyone to relish their holidays responsibly.
Source : Economist