The Ministry of Mines and Energy has kept petrol and diesel prices unchanged for August.
This decision resulted in petrol prices at Walvis Bay remaining at N$22,20 per litre, diesel 50ppm price to remain at N$21,57 per litre, and diesel 10ppm price to remain at N$21,67 per litre.
“Oil prices recently dropped to a four-month low following the announcement by the Organization of the Petroleum Exporting Countries (Opec) and its allies that they would maintain overall production levels steady until the end of 2025,” the ministry said.
According to the ministry, the exchange rate from 1 June to 25 June showed a moderate depreciation of 0,1 percent in the Namibian dollar against the U.S. dollar.
The ministry stated that during their recent meeting with Opec+ members, it was decided to maintain production at a steady level till the end of 2025.
This added to the impact on the overall drop in oil prices, while it also contributed to prices across the rest of Namibia to remain unchanged.
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