Fuel pump prices in Namibia will decrease from 4 February 2026, following lower international oil prices and a stronger Namibia dollar, the Ministry of Industries, Mines and Energy has announced.
In a statement issued after completing its February fuel price review, the ministry said international crude oil and refined petroleum product prices declined during January 2026, largely due to increased global oil supply by major producers, which outpaced demand and led to rising inventories.
The ministry said subdued global demand growth, coupled with lower geopolitical risk premiums, placed further downward pressure on prices. At the same time, the Namibia dollar appreciated against the United States dollar, in which oil is traded internationally, reducing import parity prices for both petrol and diesel.
According to the ministry’s calculations, the average price of Petrol 95 between 1 and 23 January 2026 was USD 74.30 per barrel, representing a 4.12% decrease from the December 2025 average of USD 77.49 per barrel.
Diesel 50ppm averaged USD 79.44 per barrel over the same period, a decline of 2.48% from USD 81.47 in December 2025, while Diesel 10ppm averaged USD 79.48 per barrel, down 2.47% from USD 81.49 recorded the previous month.
The ministry said the Namibia dollar averaged N$16.41 per US dollar during the January review period, reflecting a 2.43% appreciation compared to the December 2025 average exchange rate of N$16.82 per US dollar.
“These market conditions resulted in lower import parity prices for petrol and diesel, leading to over-recoveries on fuel prices and enabling a downward adjustment in pump prices,” the ministry said.
The pricing model recorded over-recoveries of 127.48 cents per litre for unleaded petrol 95, 80.17 cents per litre for Diesel 50ppm, and 89.77 cents per litre for Diesel 10ppm during the review period.
Despite the over-recoveries, the ministry said it had resolved to increase the dealer margin for service station operators by 14 cents per litre, from 222 cents to 236 cents per litre.
As a result, petrol prices will be reduced by N$1.00 per litre, while both diesel grades will decrease by 50 cents per litre.
At Walvis Bay, the new pump prices will be N$19.58 per litre for Petrol 95, N$19.63 per litre for Diesel 50ppm, and N$19.73 per litre for Diesel 10ppm. Prices across the rest of the country will be adjusted in line with these changes.
The ministry said it remains committed to ensuring that fuel prices reflect international market conditions while balancing economic sustainability for consumers and the fuel industry.
