The Ministry of Industries, Mines and Energy has announced that fuel prices will remain unchanged for October 2025, despite higher global oil prices driven by tightening supply conditions and geopolitical tensions.
In its latest review, the Ministry said international oil prices rose in September due to sharp drawdowns in U.S. crude inventories, intensified Ukrainian strikes on Russian refineries, and new U.S. restrictions that disrupted global fuel flows. Rising freight and logistics costs also pushed up landed prices.
According to the Ministry, the average price of Petrol 95 between 1–22 September stood at US$84.73 per barrel, up 3.1% from the August average of US$82.20.
The average price of Diesel 50ppm increased by 3.2% to US$88.47 per barrel, compared with US$85.75 in August, while Diesel 10ppm rose 3.2% to US$88.64 per barrel from US$85.90 previously.
The Namibia Dollar strengthened against the US Dollar during the review period, averaging N$17.49 per US Dollar, a 1.2% appreciation from August’s average of N$17.70.
The Ministry said this helped offset higher shipping costs by slightly reducing the cost of imports in local currency terms.
The review showed under-recoveries of 10.37 cents per litre for ULP95, 52.91 cents per litre for Diesel 50ppm and 44.85 cents per litre for Diesel 10ppm.
However, the Ministry confirmed that the National Energy Fund would absorb the losses.
“Although global oil prices have increased, the Ministry is pleased to announce that the prices of ULP 95 and both Diesel grades will remain unchanged for the duration of October 2025,” it said.
Petrol will stay at N$20.37 per litre, Diesel 50ppm at N$19.92 per litre, and Diesel 10ppm at N$20.02 per litre.
The Ministry added that Namibia, as an importer of petroleum products, remains exposed to global oil price movements and would continue to monitor trends to protect consumers from excessive fuel costs.
