Fuel price to increase by 40 cents per litre

Fuel price to increase by 40 cents per litre
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The fuel prices will go up by 40 cents per litre across the country Wednesday evening.
The Ministry of Mines and Energy says it adjusts the fuel prices on a monthly basis to ensure that consumers pay for the actual cost of fuel.
The ministry says the value of the adjustment is done in conjunction with the assessment of the National Energy Fund account balance.
It says the major contributing factor to this month's increment is the depreciating exchange rate of the Namibian dollar against the US dollar, during the course of August.
It says the results of the latest fuel price review indicate that the oil importers paid more per litre, than the actual cost to bring petroleum products to Namibia.
The ministry says fuel pump prices in Walvis Bay will increase by 40 cents per litre.
It says as from tomorrow night, 95-Octane Unleaded petrol will cost N$12,95 per litre, and Diesel 500 ppm will cost N$13,28 cents per liter.
Diesel 50-ppm will now cost N$13,33 per litre.
Fuel pump prices countrywide will also be adjusted accordingly.