The prices of fuel have increased in the month of April.
As of the 3rd of April, the price of petrol will go up by N$1.72 (one dollar, seventy two cents) per litre, while the price of diesel goes up by N$0.72 (seventy two cents) per litre.
As a result of the increase, at the port town of Walvis Bay the new prices will be N$22.30 per litre for petrol, and N$21.77 per litre for diesel 50 ppm, and N$21.97 per litre for diesel 10 ppm.
Fuel prices in other towns across the country will be adjusted accordingly as per the distance from Walvis Bay to that town.
The Ministry of Mines and Energy said in a statement that global oil prices are experiencing an upward trend due to a reduction in the supply of oil brought about by geopolitical tensions in the major oil markets.
There are also fewer drilling rigs that are in operation, and uncertainty surrounds oil production.
“The Ministry of Mines and Energy wishes to highlight that Namibia as an importing country is exposed to the developments in international oil markets,” the ministry said.
“The volatility in the supply and demand of fuel in the global oil markets has a notable impact on our local fuel prices.”
In the photo: Motorists will have to dig deeper into their pockets.
