The Ministry of Mines and Energy resolves to keep fuel prices unchanged for the month of July 2020

The Ministry of Mines and Energy (MME) has resolved to keep fuel prices unchanged for the month of July 2020.

The price of 95 octane petrol will remain at N.dollars 10.35 per litre while the price of diesel 50ppm remains at N.dollars 11.13 per litre.

The ministry’s spokesperson, Andreas Simon in a statement availed to Nampa today said since the crash in oil prices in April, the global oil market has begun to pick itself up as countries begin to open up their economies following the lockdowns in March owing to COVID-19.

As a result, the demand for oil started to surge including the prices of various petroleum products.

The exchange rate of the Namibia Dollar against the US Dollar, he said has been relatively favourable during the period under review in which it appreciated from an average of N.dollars 18.15 in May 2020 to N.dollars 17.01 in June 2020.

Source: Namibia Press Agency