Fuel prices to drop on Wednesday

MOTORISTS will get a New Year’s present early on Wednesday morning when petrol and diesel prices are reduced.

The pump prices of both leaded and unleaded petrol will decrease by nine cents a litre. The wholesale price of diesel will fall by seven cents a litre.The new prices will come into effect at 00h01 on Wednesday, Mines and Energy Minister Dr Nickey Iyambo said in a statement.A litre of leaded petrol (93 Octane) at Walvis Bay will fall from N$3,50 a litre to N$3,41, while a litre of unleaded (95 Octane) will fall from N$3,53 to N$3,45.The wholesale price of diesel at Walvis Bay will fall from N$3,40 a litre to N$3,33.”It would be good if all commercial institutions reflect these major cost decreases on their consumer prices, as 87 per cent of all commodities are imported, and these could benefit positively from transport cost decreases,” said Iyambo.The reduction means a N$5,40 saving each time a person whose car has a 60-litre tank pulls up at the fuel pump.The statement did not specify fuel prices in other towns.However, fuel costs in other parts of Namibia (which are adjusted for transport costs) are usually raised or lowered by the same amount as at the coast.If so, this would lead to a litre of unleaded costing N$3,59 in Windhoek, N$3,65 in Gobabis, N$3,64 in Katima Mulilo, Rundu and Oshakati, and N$3,70 in Keetmanshoop and Luderitz.The wholesale price of diesel will fall by seven cents a litre. The new prices will come into effect at 00h01 on Wednesday, Mines and Energy Minister Dr Nickey Iyambo said in a statement. A litre of leaded petrol (93 Octane) at Walvis Bay will fall from N$3,50 a litre to N$3,41, while a litre of unleaded (95 Octane) will fall from N$3,53 to N$3,45. The wholesale price of diesel at Walvis Bay will fall from N$3,40 a litre to N$3,33. “It would be good if all commercial institutions reflect these major cost decreases on their consumer prices, as 87 per cent of all commodities are imported, and these could benefit positively from transport cost decreases,” said Iyambo. The reduction means a N$5,40 saving each time a person whose car has a 60-litre tank pulls up at the fuel pump. The statement did not specify fuel prices in other towns. However, fuel costs in other parts of Namibia (which are adjusted for transport costs) are usually raised or lowered by the same amount as at the coast. If so, this would lead to a litre of unleaded costing N$3,59 in Windhoek, N$3,65 in Gobabis, N$3,64 in Katima Mulilo, Rundu and Oshakati, and N$3,70 in Keetmanshoop and Luderitz.