The Ministry of Industries, Mines and Energy has announced that the fuel price will remain the same for September.
This includes unleaded petrol (ulp) 95 and all diesel types.
This is largely due to increased oil and gas in the United States, adding more supply, which put downward pressure on crude prices and weaker refinery margins limiting refiners’ pricing power.
Petrol will be maintained at N$20.37 per litre, diesel 50ppm at N$19.92 per litre, and 10ppm diesel at N$20.02 per litre.
The average price of petrol 95 was US$82.04 per barrel, indicating a 0.13% decrease compared to July.
The average price of diesel 50ppm during the same period decreased to US$85.82 per barrel, a 5.23% decrease from the US$90.56 recorded in July.
Diesel 10ppm followed a similar trend, averaging US$85.98 per barrel, a decrease of 5.36%
compared to the July average of US$90.85.
