WINDHOEK, April 2 — Namibia will increase the price of petrol or gasoline by 1.52 Namibia dollars (about 8 U.S. cents) per liter, while both diesel grades will increase by 0.72 Namibia dollars per liter, effective Wednesday, the Ministry of Mines and Energy announced Tuesday. Penda Ithindi, executive director of the ministry, said in a statement that the price of gasoline at the pump in Walvis Bay will be 22.30 Namibian dollars and diesel 50 ppm will be priced at 21.77 Namibian dollars per liter, and diesel 10 ppm will cost 21.97 Namibian dollars per liter.
Fuel prices across the regions in the country will be adjusted accordingly, Ithindi added. “Global oil prices are experiencing an upward trend due to a reduction in oil supply brought about by geopolitical tensions in major oil markets, fewer operational drilling rigs, and uncertainty surrounding oil production,” he said. As an oil-importing country, Namibia is exposed to developments in international oil market prices, he added, noting that volatility in the supply and demand of fuel in global oil markets has a notable impact on local fuel prices.
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