Namibia will keep fuel prices the same during July despite higher costs around the world. The Ministry of Mines and Energy made this decision after oil prices jumped due to fighting between Israel and Iran. Supply cuts from major oil producers have also pushed costs up. Shipping companies face delays because they must avoid dangerous areas. Tanker shortages have made moving fuel more expensive.
The government found that fuel companies lose more than 50 cents on each liter they sell. This happens when global prices rise faster than local pump prices. The National Energy Fund will pay these extra costs to keep prices stable. Drivers at Walvis Bay will still pay 20.37 Namibian dollars per liter for petrol. Diesel prices remain at 19.92 and 20.02 dollars per liter depending on the type.
Ministry officials watch global markets closely as oil prices change quickly. They want to protect drivers from sudden price jumps. The fund helps smooth out these ups and downs. Government leaders promised to maintain steady fuel costs when possible. Officials will continue tracking world oil markets for future pricing decisions.
The government found that fuel companies lose more than 50 cents on each liter they sell. This happens when global prices rise faster than local pump prices. The National Energy Fund will pay these extra costs to keep prices stable. Drivers at Walvis Bay will still pay 20.37 Namibian dollars per liter for petrol. Diesel prices remain at 19.92 and 20.02 dollars per liter depending on the type.
Ministry officials watch global markets closely as oil prices change quickly. They want to protect drivers from sudden price jumps. The fund helps smooth out these ups and downs. Government leaders promised to maintain steady fuel costs when possible. Officials will continue tracking world oil markets for future pricing decisions.
