The Ministry of Industries, Mines and Energy has announced that fuel prices in Namibia will remain unchanged for July 2025, despite rising global oil prices driven by geopolitical tensions and supply disruptions.
According to Executive Director Ben Nangombe, pump prices at Walvis Bay will stay at N$20.37 per litre for Petrol 95, N$19.92 for Diesel 50ppm, and N$20.02 for Diesel 10ppm.
“Despite the under-recoveries recorded, the Ministry has decided to provide relief to consumers by keeping fuel prices for all products unchanged until the next review,” said Nangombe.
“The National Energy Fund (NEF) will absorb the full cost of the under-recoveries on behalf of consumers.”
He added that global oil prices have continued to climb. Between 1 and 24 June 2025, the average price of Petrol 95 stood at USD 84.47 per barrel—up 7.8% from the May average of USD 78.37. Diesel prices rose even more sharply, with Diesel 50ppm averaging USD 85.50 per barrel (a 9.5% increase) and Diesel 10ppm at USD 85.84 per barrel (up 9.7%).
“These price increases were largely influenced by extended OPEC+ supply cuts, heightened conflict between Israel and Iran, and increased shipping and freight costs caused by tanker shortages and rerouting around conflict zones,” said Nangombe.
He noted that congestion and delays at ports had further added to fuel import costs.
However, he pointed out that the appreciation of the Namibia Dollar during the period helped offset some of the impact.
“From 1–24 June 2025, the average exchange rate was N$17.85 per USD, reflecting a 1.5% appreciation compared to the full-month average of N$18.12 recorded in May 2025,” he said.
