The Ministry of Industries, Mines & Energy has announced a nationwide fuel price increase, with petrol rising by N$2 per litre and both diesel grades increasing by N$3 per litre, effective Wednesday (November 4th).⛽ The new per litre pump prices for Walvis Bay (national price anchor) will be N$28.58 for petrol, N$30.86 for diesel 50ppm, and N$30.96 for diesel 10ppm, with prices in all other towns adjusting according to the transport differential. Even though there has been slight decline in international fuel prices, the increase was caused by shipping costs rising by 40%, vessel waiting costs increasing by 64%, and a weaker Namibia dollar pushed import costs higher. The government’s National Energy Fund, which has been helping keep fuel prices lower through subsidies, is also facing financial pressure, with available funds standing at N$416 million against a target of N$800 million. The fund is expected to pay approximately N$384 million to oil companies to cover fuel pricing shortfalls rom October.   submitted by   /u/namibpulse [link]   [comments]