Namibians will enter the New Year with a sigh of relief after the Ministry of Mines and Energy decreased diesel prices by N$2.20 per litre and the petrol price by N$1.80 per litre with effect from the 4th of January 2023.
The new fuel prices in Walvis Bay will thus become N$20.65 per litre for diesel and N$18.28 per litre for petrol, according to a statement released on Friday.
Fuel prices for the country will also be adjusted accordingly.
“The Ministry is glad that Namibian fuel consumers will move into the new year with a major reduction in the cost of petroleum products,” the statement reads.
The latest adjustment comes after the government department reduced the price of diesel for December by N$1.25 to N$22.85, while the price of petrol remained unchanged.
The price cut comes after the Ministry in November had announced a N$1.98 price increase on diesel to N$24.10 per litre, a development which had caused distress for the country’s mining and the agricultural sectors, which heavily rely on the fuel to operate various machinery.
Namibia, according to data from the Ministry of Mines and Energy, consumes 90 million litres of fuel per month on average – 60 million litres of diesel and 30 million litres of petrol.
