THE diesel price will go up by 13 cents a litre next Thursday – the first hike in nine months.
The price of petrol will go up by 37 cents a litre at the same time. It is the second month in a row that the prices of unleaded and lead-replacement petrol (LRP) increase.
This means that the diesel price will creep up to N$6,63 a litre at Walvis Bay. Unleaded petrol will cost N$6,44 per litre at the harbour town, while LRP will be N$6,40 per litre.The increase becomes effective at 00h01 on April 16, sources in the fuel industry confirmed yesterday.The adjustment follows a month of under-recovery in the local industry. An under-recovery means that the basic fuel price, based on the daily product price and exchange rate, is more than the basic fuel price used in the calculation of the monthly retail fuel price.According to the latest figures, the under-recovery for March was about 30 cents per litre on unleaded and lead-replacement petrol, and five cents per litre on diesel. jo-mare@namibian.com.na
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