Namibian Minister of Mines and Energy, Obeth Kandjoze , announced that petrol and diesel prices will decrease by $0.036 and $0.02 per liter, respectively, reported All Africa.
This means pump prices at Walvis Bay will now be $0.72 per liter of unleaded petrol, $0.7 per liter of diesel 500 parts per million (ppm), and $0.71 for diesel 50 ppm.
Kandjoze said the fuel tax will increase by 108% for a liter of unleaded petrol 95 and 150% for a liter of both diesel grades as of early September. The Ministry of Finance increased the levy rates on fuel products effective from August 2016, but due to some procedural technicalities, the levy was unable to be implemented at the pumps at that time.
In related news, Namibia had increased fuel prince in early July 2016, despite the Namibia Dollar improving slightly against the United States Dollar. The government bumped the price of a liter of petrol by $0.02 and that of diesel by $0.03, according to New Era Newspaper Namibia.