Fuel pump prices remain unchanged for December

Fuel prices will remain unchanged for December, the Ministry of Mines and Energy has announced.

The ministry, in a media statement signed by Minister Tom Alweendo on Monday, stated that the global oil market supply and demand remained relatively steady throughout the month of November 2019.

It further said there were no major disruptions in the market and this kept the prices of refined oil at relatively stable levels.

The exchange rate between the Namibia Dollar and the US Dollar did not fluctuate much throughout the month of November.

On average, the Namibia Dollar only gained minimal value against the US Dollar from N.dollars 14.88 in October 2019 to N.dollars 14.80 per US Dollar for the period under review, the ministry said.

'The slight appreciation implies exchange rate and fuel price stability.'

In Walvis Bay, 95 Octane Unleaded Petrol will remain at N.dollars 13.05 per litre and Diesel 50ppm at N.dollars 13.63 per litre.

Fuel pump prices countrywide will equally remain unchanged for the month of December 2019.

Source: Namibia Press Agency