12 May 2011
DIESEL in the far north and south of Namibia will cost close to N$10 a litre when the latest set of fuel price increases hit consumers next Wednesday.
Mines and Energy Minister Isak Katali in a statement late Wednesday confirmed that the diesel price will increase by 15 cents a litre on May 18, while the price of both grades of petrol will rise by 31 cents a litre.
“It looks like oil prices are approaching the ‘push economies into recession’ level,” Katali said, adding that anyone living in a developed and developing country will be directly impacted by the cost and availability of oil.
“Prices of crude oil affect much more than just the price of petrol at the pump. It is a factor in the cost of countless other goods and services here and around the world, from airplane tickets to the food on our tables.”
The Minister said although the price of crude oil has been dropping in recent days to just about N$113 a barrel, “the cost of fuel at the pump remains impervious to these challenges”.
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Diesel Approaches N$10 Per Litre Level