Oops! Ministry miscalculates fuel price cut

FUEL prices at the pump only went down by 14 cents a litre for petrol and nine cents a litre for diesel yesterday.

The Ministry of Mines and Energy announced earlier this week that the prices would drop by 30 cents (petrol) and 25 cents (diesel), but that calculation did not take fuel levies into account. The adjusted levies per litre of fuel amount to 16 cents.They are the Petroleum Fund levy, the Road Fund levy, Motor Vehicle Accident Fund (MVA) levy and a dealer margin.This means the new Walvis Bay pump prices are N$6,04 for a litre of unleaded petrol, N$6,02 for a litre of lead-replacement petrol and N$6,08 for a litre of diesel.All inland prices have been adjusted accordingly.The adjusted levies per litre of fuel amount to 16 cents.They are the Petroleum Fund levy, the Road Fund levy, Motor Vehicle Accident Fund (MVA) levy and a dealer margin.This means the new Walvis Bay pump prices are N$6,04 for a litre of unleaded petrol, N$6,02 for a litre of lead-replacement petrol and N$6,08 for a litre of diesel.All inland prices have been adjusted accordingly.