WINDHOEK - Namibian Minister of Mines and Energy Tom Alweendo said Monday that the country's fuel prices for November will remain unchanged due to stability in global oil market throughout October.
The prices of 95 Octane Unleaded Petrol and Diesel 50 ppm will keep at 13.05 Namibian dollars ($0.86) per liter and 13.63 Namibian dollars per liter, respectively.
There were no major events to trigger major fluctuations in the prices of refined oil, and prices came down on average compared with the previous month, Alweendo said in a statement.
The minister said there were no significant fluctuations in the exchange rate between the Namibian dollar and the US dollar throughout October as it slightly depreciated, on average, from 14.80 Namibian dollars in September to 14.90 Namibian dollars in the period under review.
Namibia's economy is projected to gradually emerge from recession in 2020 with a moderate growth rate of about 0.8 percent and about 1.3 percent by 2021, averaging 2 percent over the next Medium Term Expenditure Framework (MTEF), a government official said.