The Ministry of Industries, Mines and Energy has announced that fuel prices in Namibia will remain unchanged in November.
The pride of petrol ULP95 will be maintained at N$20.37 per litre at Walvis Bay, diesel 50ppm will remain at N$19.92 per litre and diesel 10ppm will cost N$20.02 per litre.
Global oil prices were found to be under pressure in October, with Brent crude trading around US$61.50 per barrel, its lowest level since May 2025.
The decline is attributed to concerns about a growing global oil surplus. This has contributed to a reduction in the cost of petroleum products, with the cost of petrol decreasing by 5.5% and diesel 50ppm decreasing by 1.47%, while diesel 10ppm decreased by 1.35%.
Additionally, the Namibia dollar strengthened against the US dollar during the period, with the exchange rate at about N$17.27.
The pricing model recorded an over-recovery of 55.26 cents per litre for ULP95 and under-recoveries of 32.63 cents per litre for diesel 50ppm and 25.82 cents per litre for diesel 10ppm.
The ministry said it decided to increase the industry margin by 30 cents per litre, bringing the new margin to 219 cents per litre.
“The ministry remains committed to ensuring stability, affordability and reliability of fuel supply for the country,” the ministry stated.
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