Petrol prices will go up by N$1.50 per litre on Wednesday, while diesel prices will remain the same for the month of October.
The changes were announced by energy minister Modestus Amutse on Friday.
The price of petrol at pumps in Walvis Bay will be N$26.58 for petrol, N$27.86 for diesel 50ppm and N$27.96 for diesel 10ppm.
“It was not an easy decision to come to this conclusion. But we are quite aware that diesel is used by industries; we have come to a conclusion which is definitely not easy,” Amutse said on Friday.
He said the government will continue to monitor the market for the month of October.
“Anything may happen as we review the prices at the end of the month,” Amutse said.
Compared to August 2026, the cost of importing petrol into the country increased by 19.27% in September, while the cost of importing diesel increased by approximately 13%.
“International oil market developments remained highly volatile due to geopolitical tensions and supply disruptions in the Middle East,” Amutse said.
Increases in the cost of shipping petroleum products, international export restrictions and the weaker Namibia dollar also increased the cost of bringing fuel into the country, Amutse said.
Export restrictions by some countries of diesel also contributed to higher international prices.
Amutse assured that there was sufficient fuel in the country for all domestic needs.
“Namibia currently maintains adequate fuel stocks and that there are no immediate risks of fuel shortage in the country,” Amutse said.
