Govt absorbs N$47.2m loss to maintain fuel prices
The government is absorbing N$47.2 million in fuel losses in June to keep prices unchanged.Under-recoveries will be paid from the National Energy Fund. During a recent press briefing, minister of industries, mines and energy Modestus Amutse said the ministry is keeping fuel prices unchanged despite continued volatility in global oil markets and mounting regional pricing […] The post Govt absorbs N$47.2m loss to maintain fuel prices appeared first on The Namibian.
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The government is absorbing N$47.2 million in fuel losses in June to keep prices unchanged.
Under-recoveries will be paid from the National Energy Fund.
During a recent press briefing, minister of industries, mines and energy Modestus Amutse said the ministry is keeping fuel prices unchanged despite continued volatility in global oil markets and mounting regional pricing pressures.
The price of petrol will remain N$23.48 per litre, while the price of diesel 50ppm will be N$28.26 and the price of diesel 10ppm will be N$28.36.
These are the prices at fuel pumps at Walvis Bay, and prices across the country will remain at their current levels.
“The price we set at the pump is not the price the suppliers ask. To protect the interest of our people, we say let’s fix the price at the pump so we can promote transparency and protect the end consumer,” Amutse said.
The post Govt absorbs N$47.2m loss to maintain fuel prices appeared first on The Namibian.
