Steep petrol price hike in SA, locally
Namibia’s key trading partner
Inflation in Namibia averaged 6.1% in 2022 and came in at 7% in January 2023.
Fuel prices in Namibia’s key trading partner, South Africa, increased today. Equally, the price of petrol locally increased today, while the price of diesel will remain unchanged.
The price of petrol in Namibia increased by N$1.50 per litre. The price of petrol at Walvis Bay, which is the port of entry, is N$19.75 and N$20.65 per litre for diesel, the ministry of mines and energy said.
Fin24 reported that the price of both 95 and 93 unleaded petrol in South Africa is hiked by R1.27 a litre, while diesel will go up by between 30c and 32c.
Illuminating paraffin increased by 13c a litre, while the maximum retail price for LP gas will be hiked by R5.22 a kilogram.
In Gauteng, the price of a litre of 95 unleaded petrol will increase to R22.95, while it will increase to R22.30 on the coast. This is still lower than December's price of R23.45 in Gauteng. A year ago, 95 petrol retailed for R21.60 in Gauteng. The Gauteng diesel price reached R21.6, from R18.87 a year ago.
Imports
Namibia heavily depends on South Africa for imports. According to the latest trade statistics by the Namibia Statistics Agency (NSA), the value of imports stood at N$9.8 billion in December 2022.
South Africa remained the largest source of goods for Namibia during the month under review with imports amounting to N$4.0 billion.
Imports from South Africa accounted for a share of 40.8% of the value of all goods received into the country in December 2022.
Petroleum oils topped the list of imported goods for the month of December 2022, with a share of 23.7% of the nation’s total import value.
Petroleum oils were mostly sourced from United Arab Emirates, Saudi Arabia and South Africa, NSA.
Apart from petroleum oils, Namibia also import other goods from South Africa such as motor vehicles for the transportation of goods, fertilizers and telecommunications equipment.
Looking at prices, inflation in Namibia averaged 6.1% in 2022 and came in at 7% in January 2023. The Bank of Namibia (BoN) expects inflation to average 5.3% in 2023. –[email protected]
The price of petrol in Namibia increased by N$1.50 per litre. The price of petrol at Walvis Bay, which is the port of entry, is N$19.75 and N$20.65 per litre for diesel, the ministry of mines and energy said.
Fin24 reported that the price of both 95 and 93 unleaded petrol in South Africa is hiked by R1.27 a litre, while diesel will go up by between 30c and 32c.
Illuminating paraffin increased by 13c a litre, while the maximum retail price for LP gas will be hiked by R5.22 a kilogram.
In Gauteng, the price of a litre of 95 unleaded petrol will increase to R22.95, while it will increase to R22.30 on the coast. This is still lower than December's price of R23.45 in Gauteng. A year ago, 95 petrol retailed for R21.60 in Gauteng. The Gauteng diesel price reached R21.6, from R18.87 a year ago.
Imports
Namibia heavily depends on South Africa for imports. According to the latest trade statistics by the Namibia Statistics Agency (NSA), the value of imports stood at N$9.8 billion in December 2022.
South Africa remained the largest source of goods for Namibia during the month under review with imports amounting to N$4.0 billion.
Imports from South Africa accounted for a share of 40.8% of the value of all goods received into the country in December 2022.
Petroleum oils topped the list of imported goods for the month of December 2022, with a share of 23.7% of the nation’s total import value.
Petroleum oils were mostly sourced from United Arab Emirates, Saudi Arabia and South Africa, NSA.
Apart from petroleum oils, Namibia also import other goods from South Africa such as motor vehicles for the transportation of goods, fertilizers and telecommunications equipment.
Looking at prices, inflation in Namibia averaged 6.1% in 2022 and came in at 7% in January 2023. The Bank of Namibia (BoN) expects inflation to average 5.3% in 2023. –[email protected]
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