Today the prices of fuel were increased beyond the N$20 per litre mark for the first time in the history of Namibia.

The cheapest petrol pump in Namibia can be found in the coastal town of Walvis Bay for N$19.10 per litre, while diesel in the same town is at N$20.23 per litre.

The farther you go from Walvis Bay across the country prices are increased accordingly.

Popular Democratic Movement (PDM) president, who also serves as Leader of the Official Opposition, Mr. McHenry Venaani asked President Hage Geingob during the State of the Nation Address in Parliament today as to what the Government will do to cushion the fuel price burden on citizens.

In response Geingob talked about the oil which has been discovered in Namibia and his comments aired on an international channel two weeks ago.

“I was being interviewed by Aljazeera, talking about the oil discovered in Namibia. I was talking about that oil which they discovered, when I heard they found oil, I was talking about that oil,” he said.

“Where the shareholding was 90% them and 10% government because we don’t want to invest in the drilling and take such a risk, because they will be the one to condemn us, that we are reckless, because if we drill for oil and we don’t find it, we lose billions.

“Those people have insurance, they can do that. So we don’t want to waste taxpayers money.”

In the photo: Fuel pumps will bite motorists pockets harder.