The Ministry of Mines and Energy on Friday announced that fuel prices in Namibia will remain unchanged for both petrol and diesel for the month of June.

Senior public relations officer in the ministry, Andreas Simon, in a media statement said the current fuel review has an under-recovery of 49 cents on petrol and an over-recovery of 23 cents on diesel.

“These values are still relatively low and the ministry has thus resolved to keep the fuel pump prices for June 2021 unchanged. The fuel pump prices in Walvis Bay will remain N.dollars 13.15 per litre for petrol and N.dollars 13.18 per litre for diesel. The prices across the rest of the country will also remain unchanged at their current respective levels,” he said.

He added that the Ministry of Finance has approved an increase of 07 cents per litre (c/l) in the Road User Levy on fuel, which is collected by the Road Fund Administration for road infrastructure financing.

“The Road User Levy on both petrol and diesel is currently at 141 c/l, the approval of the Ministry of Finance means that the new levy will become 148 c/I, effective on 01 June 2021,” said Simon.

Moreover, Simon said it should be noted that through its fuel equalisation levy, the National Energy Fund will cover the entirety of the under-recoveries recorded for the month of May 2021 on the behalf of fuel consumers.

“Despite the uncertain times that are currently prevailing in the oil market, the ministry remains steadfast in its ongoing resolve to, at all times, put first the interests of Namibian fuel consumers,” he stressed.

He further said oil prices will continue to remain sensitive due to the uncertainties surrounding the Iran nuclear negotiations with the United States, as well as the COVID-19 restrictions in Asia.

Source: Namibia Press Agency