The prices of petrol as well as both variants of diesel will go up by 50 cents a litre as from Wednesday, 5 March.
This is according to a Ministry of Mines and Energy fuel price review statement issued yesterday.
Petrol will cost N$21.17 per litre while diesel 50ppm will be N$21.42 and diesel 10ppm will cost N$21.52 per litre at Walvis Bay. Prices in other regions of the country will be adjusted accordingly, taking into account the cost of delivering fuel.
“In February 2025, the average price of petrol 95 was US$87.32 per barrel, registering a 0.09% decrease compared to the previous month.
“The average price of diesel 50ppm was US$91.42 per barrel, showing a 3.02% decrease, and diesel 10ppm was US$91.50 per barrel, registering a 3.08% decrease compared to January 2025,” said the ministry.
The ministry observed an under-recovery of 17.54 cents per litre for petrol, over-recoveries of 4.13 cents and 13.18 cents per litre for 50ppm diesel and 10ppm diesel, respectively.
The ministry said two key domestic developments had been considered in this price review – the new national minimum wage which came into effect on 1 January 2025, and the unmet funding needs for the maintenance of the national road network under the Road Fund Administration (RFA).
“The minimum wage for the fuel retail sector, which more than doubled from N$7.20 per hour to N$18 per hour, could not be fully absorbed by the industry without affecting jobs and business sustainability,” said the statement.
The ministry then resolved to increase the dealer’s margin for fuel retail operators or service stations by 30 cents a litre to support job retention and cushion service station petrol attendants, and to support business sustainability.
“This adjustment would raise the dealer’s margin to 222 cents per litre,” said the ministry.
The road user charge levy will be increased by 20 cents per litre, bringing the RFA levy to 243 cents per litre.
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