Namibian motorists will pay N$2 more per litre for petrol and N$3 more for diesel from 4 November 2026, as the government moves to protect the National Energy Fund (NEF) from depletion amid rising fuel import costs.
The Ministry of Industries, Mines and Energy said Petrol 95 will increase to N$28.58 per litre at Walvis Bay, while Diesel 50ppm will rise to N$30.86 and Diesel 10ppm to N$30.96 per litre.
Minister of Industries, Mines and Energy Modestus Amutse said the adjustment follows mounting pressure on the NEF, which is expected to cover approximately N$384 million in fuel under-recoveries for October.
“The Fund has been carrying a heavy burden since April and May this year, and without a price adjustment it would be at risk of being fully depleted within a short period,” Amutse said.
The Ministry attributed the price increases to higher international shipping costs and the depreciation of the Namibia dollar against the United States dollar.
The Namibia dollar also weakened by approximately 2.07% against the US dollar, pushing up the cost of imported petroleum products.
These developments increased the landed cost of petrol at Walvis Bay by 5.74%, while diesel import costs rose by 2.44%, despite a decline in international refined petroleum prices.
“However, I must be clear with the nation that lower product prices did not translate into a lower cost of bringing fuel into Namibia. Two other factors more than cancelled out that small relief,” Amutse said.
He said Namibia had secured a fuel supply discount from TotalEnergies Marketing Namibia through the interim Bulk Petroleum Import Coordination (BPIC) process, reducing the landed cost of petrol by 71 cents per litre and diesel by 61 cents per litre.
The arrangement is expected to reduce Namibia’s monthly fuel import bill by approximately N$64 million, based on national consumption of about 100 million litres.
The Minister further assured consumers that Namibia had sufficient fuel stocks to meet national demand despite ongoing disruptions in international oil markets.
“Namibia has sufficient fuel stocks and that the national fuel supply system remains stable. Consumers are urged not to engage in panic buying,” he said.
He said the government would continue reviewing the BPIC mechanism and fuel transport pricing arrangements to reduce import costs and limit the impact of international price increases on consumers.
The latest increase follows another fuel price adjustment implemented in October 2026, when the government raised petrol prices by N$1.50 per litre and diesel prices by N$2 per litre, citing pressure on the National Energy Fund and rising international fuel import costs.
