The Ministry of Mines and Energy has announced a 4 cents per litre decrease in the prices of petrol and both variants of diesel (diesel 50ppm and diesel 10ppm) for the month of February 2024.
In Walvis Bay, the price of petrol will thus become N$20.74 per litre for petrol, N$21.01 per litre for diesel 50ppm, and N$21.21 per litre for diesel 10ppm.
According to the ministry, it recorded under-recoveries on both petrol and diesel products, amounting to 4 cents per litre on petrol and 33 cents on diesel 50ppm and 28 cents per litre on diesel 10ppm.
The Mines and Energy ministry also announced that it has reviewed the transport rates, which play a crucial role in enabling the distribution of fuel to all different parts of the country, which have not been reviewed since 2007.
“In light of this, for areas that do not attract subsidies, the pump price will be attuned based on adjustments of new transport rates in areas where fuel is transported from inland depots via road. This is because changes in transport rates directly impact the pump price in each town.”
The Ministry also further extended the temporary relief margin of 20 cents per litre for another 3 months (February – April 2024) to oil wholesalers, “as this will ensure that the country will continue to benefit from a stable and secure supply of petroleum products.”
