The Ministry of Mines and Energy has announced that fuel prices in Namibia will remain unchanged for December 2024.
This decision applies to both petrol and diesel variants (50ppm and 10ppm).
In Walvis Bay, petrol will continue to retail at N$20.25 per litre, while diesel 50ppm and 10ppm will remain at N$19.72 and N$19.82 per litre, respectively
The Ministry attributed this stability to recent pricing trends. In November, the average price of Petrol 95 fell by 2.8% to USD 83.974 per barrel compared to October. Conversely, diesel prices rose slightly, with diesel 50ppm increasing by 2.4% to USD 89.008 per barrel and diesel 10ppm by 2.3% to USD 89.128 per barrel.
These increases were largely driven by the depreciation of the Namibian dollar.
“After analyzing the input factors and other pricing parameters, the fuel pricing model recorded an over-recovery of 26.746 cents per litre for petrol, alongside under-recoveries of 43.790 cents per litre for diesel 50ppm and 35.154 cents per litre for diesel 10ppm,” the Ministry explained.
This marks the second consecutive month of unchanged fuel prices, following a reduction in October that saw petrol and both diesel types drop by N$1 per litre.
The Ministry reassured consumers that it will continue monitoring global fuel price movements and exchange rate trends to ensure fair pricing in the local market.
