Petrol price to hit N$4 mark next week

FOR the first time, Namibian drivers will have to pay more than N$4,00 per litre for fuel.

Government yesterday announced that fuel prices will go up on Wednesday. It represents the second increase in three months.The new increase of 29 cents/l will push the price of leaded and unleaded fuel to N$4,05/l and N$4,09/l respectively in Windhoek.Only consumers at the coast will still pay under N$ 4,00/l for their fuel – N$3,90/l for leaded and N$3,94/l for unleaded petrol.Diesel prices will go up by 28 cents/l putting it at N$3,94/l in Windhoek and as much as N$4,11 at Noordoewer.In April, Namibian consumers were forced to cough up 20 cents more for a litre of petrol and 17 cents more for diesel.The Minister of Mines and Energy, Dr Nickey Iyambo, said yesterday that the increases were needed to cope with a rise in the import parity price as a result of fluctuations in the international crude oil prices.He said the stronger rand exchange rate had helped to offset the effects of the crude oil price to more than US$30 a barrel since March.But crude oil prices had risen by 40 per cent in US dollar terms since January 2001.Iyambo said that the current pump prices were up to 15 cents below the import parity costs.”As usual, the Ministry of Mines and Energy feels it has a responsibility to the Namibian consumer by trying to keep fuel price increases to the absolute minimum, which should not reflect very adversely on commodity prices transported from abroad,” said Iyambo.Consumers at Katima Mulilo and Rundu will now pay N$4,11/l (93 Octane) N$4,15/l (95 Octane) while at Oshakati petrol will be one cent less.Diesel at all three these towns will be set at N$3,99/l.As usual, the southern regions will pay the most for fuel at N$4,17/l (93 Octane) and N$4,21/l (95 Octane) at Keetmanshoop and Luederitz.Diesel will cost N$3,99/l at Luederitz and N$4,06/l at Keetmanshoop.It represents the second increase in three months.The new increase of 29 cents/l will push the price of leaded and unleaded fuel to N$4,05/l and N$4,09/l respectively in Windhoek.Only consumers at the coast will still pay under N$ 4,00/l for their fuel – N$3,90/l for leaded and N$3,94/l for unleaded petrol.Diesel prices will go up by 28 cents/l putting it at N$3,94/l in Windhoek and as much as N$4,11 at Noordoewer.In April, Namibian consumers were forced to cough up 20 cents more for a litre of petrol and 17 cents more for diesel.The Minister of Mines and Energy, Dr Nickey Iyambo, said yesterday that the increases were needed to cope with a rise in the import parity price as a result of fluctuations in the international crude oil prices.He said the stronger rand exchange rate had helped to offset the effects of the crude oil price to more than US$30 a barrel since March.But crude oil prices had risen by 40 per cent in US dollar terms since January 2001.Iyambo said that the current pump prices were up to 15 cents below the import parity costs.”As usual, the Ministry of Mines and Energy feels it has a responsibility to the Namibian consumer by trying to keep fuel price increases to the absolute minimum, which should not reflect very adversely on commodity prices transported from abroad,” said Iyambo.Consumers at Katima Mulilo and Rundu will now pay N$4,11/l (93 Octane) N$4,15/l (95 Octane) while at Oshakati petrol will be one cent less.Diesel at all three these towns will be set at N$3,99/l.As usual, the southern regions will pay the most for fuel at N$4,17/l (93 Octane) and N$4,21/l (95 Octane) at Keetmanshoop and Luederitz.Diesel will cost N$3,99/l at Luederitz and N$4,06/l at Keetmanshoop.