Fuel price drop

Floris Steenkamp

Namibians and visitors to the country can look forward to a much-welcomed fuel price drop at one minute past midnight on Wednesday, 5 December.
95-Octane unleaded petrol drops by N$1 per liter and diesel drops by 40 cents per liter.
The pump price for petrol at Walvis Bay will as from Wednesday be N$12,95 per liter, Diesel 500ppm* N$14,08 per liter and Diesel 50ppm N$14,13.
*Diesel 500ppm is currently in the process of being phased out in Namibia.
Crude oil is globally in oversupply and global weak economic outlooks also weakens the demand for fuel. Closer to home, the improving exchange rate between the Namibian Dollar against the US Dollar also contributed to Wednesday’s drop in the fuel price.
Also see in today’s edition a breakdown by the Economic Society of Namibia (ESN) of the fuel price cycle.



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