Diesel Price to Drop Tomorrow

THE price of diesel will decrease by 20 cents as of Wednesday while that of petrol will remain unchanged.

The Ministry of Mines and Energy announced that crude oil prices had not been affected by the geo-political events in Iraq, Ukraine and Gaza, and global oil supplies remained ample.

Mines and energy minister Isak Katali was quoted in the statement as saying the exchange rate between the Namibian dollar and the main international trading currency the US dollar had weakened slightly, partly making imports expensive but not high enough to increase the cumulative cost of bringing oil to the Namibian shore.

“This has led to a slight under-recovery on the petrol grade and over recoveries on all diesel grades in the local oil industry in the period under review,” he said.

Thus, 95 Octane unleaded petrol remains at N$12,29 per litre.

Diesel 500 parts per million (ppm) will be decreased from N$12,62 to N$12,42 per litre, and Diesel 50ppm will be adjusted from N$12,72 to N$12, 52 per litre in Walvis Bay.

Nampa

Source : The Namibian