Petrol prices will decrease by 100 cents per litre in February, while prices for both diesel grades will fall by 50 cents per litre.
This is effective from Wednesday, the Ministry of Industries, Mines and Energy said on Saturday.
It said the reductions follow a review of the fuel price for February and reflect lower international oil prices and movement in the exchange rate.
“International crude oil and refined petroleum product prices recorded during January 2026 declined mainly due to an increase in global oil supply by major producers, which outpaced demand,” the ministry said.
According to the ministry, the average price of petrol for the period from 1 to 23 January was US$74.30 per barrel, down from US$77.49 in December.
The average price of diesel 50ppm fell to US$79.44 per barrel from US$81.47, while diesel 10ppm declined to US$79.48 per barrel from US$81.49.
The Namibia dollar averaged N$16.41 per United States dollar during the review period, representing an appreciation from the December average of N$16.82.
The ministry said the pricing model recorded over-recoveries of 127.48 cents per litre for petrol, 80.17 cents per litre for diesel 50ppm and 89.77 cents per litre for diesel 10ppm.
“This indicates that regulated prices were higher than the costs reflected in the pricing model,” it said.
The ministry also announced an increase in the dealer margin for service station operators by 14 cents per litre, from 222 cents per litre to 236 cents per litre.
At Walvis Bay, petrol 95 will sell for N$19.58 per litre, diesel 50ppm for N$19.63 per litre and diesel 10ppm for N$19.73 per litre. Prices in the rest of the country will be adjusted accordingly.
“The ministry remains committed to ensuring that fuel prices reflect international market conditions while balancing economic sustainability for consumers and the industry,” it said.
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