How Much Is A Litre Of Petrol In Namibia?
Crude oil is important in every country to run its activities in the economy. Big businesses as well as some small business across the world even individuals need oil to run their day-to-day activities.
Crude oil mostly known as Petroleum is a yellowish-black liquid found beneath the earth’s surface. This natural substance is naturally occurring and it is commonly refined into various types of fuels.
Petroleum Prices In Namibia Litre Gallon
NAD 21.08 79.796
EUR 1.210 4.580
USD 1.225 4.637
An advanced country has higher prices while developing countries have lower prices. All countries across the world have access to the same petroleum prices from the international market but some countries decide to impose different taxes and subsidies causing the price to rise. In average, the price of petroleum around the world is 1.33 U.S. Dollars per litre.
What Is Causing The Price Of Oil To rise In Namibia And Who Controls It?
Oil prices in Namibia are determined by the global demand and supply. The demand and supply of oil strongly controls the prices of oil and economic growth is one of the factors affecting petroleum products.
Two factors are causing the price of oil to rise in Namibia.
1. Low Demand due to the global pandemic.
2. People stopped traveling.
This ended up idling 3 million barrels per day (BPD) of United State (U.S) oil products relative to a year ago.
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How People Make Money From Oil In Namibia
Before one starts a business, there are certain things one needs to consider before bringing it into existence. People or businesses make money from crude oil in Namibia by understanding and putting the below in place;
1. Understanding the crowd
2. Read the Long-Term Chart
3. Learn what moves crude oil
4. Pick your venue
How Many Kilometers (km) Can 1litre Of Petrol In Namibia Take You
Your car can cover a distance of 12.5km on a liter in Namibia. The actual formula to get km per liter is 100 divided by 8. => 100/8 = 12.5