Fuel prices remain unchanged for June
The Ministry of Mines and Energy on Friday announced fuel prices in Namibia will remain unchanged for both petrol and diesel for June.
Senior public relations officer in the ministry Andreas Simon in a media statement said the current fuel review has an underrecovery of 49 cents on petrol and an overrecovery of 23 cents on diesel.
“These values are still relatively low and the ministry has thus resolved to keep the fuel pump prices for June 2021 unchanged. The fuel pump prices in Walvis Bay will remain at N$13.15 per litre for petrol and N$13.18 per litre for diesel. The prices across the rest of the country will also remain unchanged at their current respective levels,” he said.
He added the Ministry of Finance has approved an increase of 07 cents per litre (c/l) in the Road User Levy on fuel, which is collected by the Road Fund Administration for road infrastructure financing.
“The Road User Levy on both petrol and diesel is currently at 141 c/l, the approval of the Ministry of Finance means that the new levy will become 148 c/I, effective on 1 June 2021,” said Simon.
Moreover, Simon said it should be noted that through its fuel equalisation levy, the National Energy Fund will cover the entirety of the under-recoveries recorded for May 2021 on the behalf of fuel consumers.
“Despite the uncertain times that are currently prevailing in the oil market, the ministry remains steadfast in its ongoing resolve to, at all times, put first the interests of Namibian fuel consumers,” he stressed.
He further said oil prices would continue to remain sensitive due to the uncertainties surrounding the Iran nuclear negotiations with the United States as well as the Covid-19 restrictions in Asia.