Namibia to lower fuel prices

The Namibian government has decided to reduce the price of petrol by 80 Namibian cents per litre (around $0.044).

Similarly, 50ppm diesel will be rented at 60 Namibian cents per litre, and 10ppm diesel at 70 Namibian cents per litre from Wednesday.

The country’s Ministry of Mines and Energy (MME) announced this in a statement on Tuesday.

The ministry said the pump price of petrol in Walvis Bay would be 22.20 Namibian dollars per litre, while 50ppm diesel would be available at 21.57 Namibian dollars.

READ ALSO: Namibian President Geingob under fire for bringing his four children as delegates to COP28 in Dubai

“Fuel prices across the country will be adjusted accordingly.

“Oil prices recently fell to a four-month low following an announcement by the Organization of the Petroleum Exporting Countries and its allies that they would keep overall production levels steady until the end of 2025,” he added.

The Ministry noted that the exchange rate from June 1 to June 25 showed a moderate depreciation of 0.1 percent of the Namibian dollar against the US dollar, which had a negligible impact on the overall decline in oil prices.

Namibia to lower fuel prices first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.