The Ministry of Mines and Energy has announced that during the month of September 2020 the international price of refined petroleum products declined in comparison to previous months, with the average price per barrel of petrol dropping to US$ 46.99 from U$ 48.38 in August, while that of diesel dropped to US$ 42.79 from US$ 48.45. During the same period the average exchange rate between the Namibian Dollar and the US Dollar strengthened, though the cost of freight increased slightly. The combination of these factors resulted in an under-recovery being recorded for petrol and an over-recovery for diesel and as a result the Ministry has decided that the fuel pump price for diesel will decrease by 40c/litre as of Wednesday 7 October 2020, while that of petrol will remain unchanged.