By: Nghiinomenwa-vali Hangala
Namibia has recorded one of the highest fuel under-recoveries for April, on two main fuels, forcing the government to step in to cover the difference with N$500 million.
The Ministry of Industries, Mines, and Energy (MIME) made this announcement last week during an update on the country’s fuel supply security.
The Namibian government has followed other governments currently taking various measures to cushion their economies from oil and fuel supply shocks caused by the USA and Israel attacks on Iran.
Iran controls one of the critical points in maritime sections of the world, the Strait of Hormuz, which is used to transport about 20% of the world’s crude and refined petroleum products.
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