Chamwe Kaira
The Ministry of Industries, Mines and Energy has increased the fuel industry margin by 30 cents per litre, bringing it to 219 cents per litre.
Executive director in the ministry, Moses Pakote, said the adjustment is aimed at ensuring the financial sustainability of fuel importers while maintaining a reliable supply of petroleum products across the country.
The National Energy Fund will fund the increase, according to him, and it won’t impact pump prices.
This comes as the ministry announced over the weekend that fuel prices will remain unchanged for November 2025, with prices at Walvis Bay set at N$20.37 per litre for petrol 95, N$19.92 per litre for diesel 50ppm, and N$20.02 per litre for diesel 10ppm.
Pakote said the current pricing structure balances affordability for consumers with sustainability for industry players.
“The Ministry remains committed to ensuring the stability, affordability, and reliability of fuel supply across the country,” he said.
According to the ministry’s latest review, global oil prices came under renewed pressure in October, with Brent crude averaging US$61.50 per barrel, the lowest level since May 2025.
The decline was linked to a growing oil surplus as OPEC+ increased production by 137 000 barrels per day starting in November, adding to global supply.
The review showed that Petrol 95 prices dropped by 5.5% to US$79.77 per barrel from US$84.41 in September. Diesel 50ppm fell by 1.47% to US$87.73 per barrel, while diesel 10ppm decreased by 1.35% to US$88.02 per barrel.
The Namibian dollar strengthened slightly against the US dollar, appreciating by 1.0% to an average of N$17.27 per US dollar during October, compared to N$17.45 in September.
The ministry’s fuel price model recorded an over-recovery of 55.266 cents per litre for Petrol 95, while Diesel 50ppm and Diesel 10ppm recorded under-recoveries of 32.633 cents and 25.824 cents per litre.
Caption
Fuel prices will remain unchanged in November, with petrol at N$20.37 per litre and diesel 10ppm at N$20.02 per litre.
- Photo: Contributed
