Windhoek: Fuel prices will remain unchanged in January despite lower international oil prices and a stronger Namibia dollar, the Ministry of Industries, Mines and Energy has said. In a statement issued on Friday by the Executive Director, Moses Pakote, the ministry said it had completed its fuel price review for January 2026 and decided to maintain current pump prices after the pricing model recorded over-recoveries during the review period.
According to Namibia Press Agency, the pricing model showed over-recoveries of 42.51 cents per litre for ULP95, 8.66 cents per litre for Diesel 50ppm, and 18.37 cents per litre for Diesel 10ppm, indicating that regulated prices were higher than the costs reflected in the model. ‘To that end, the Ministry has decided to maintain the current fuel prices to support price stability amid ongoing market volatility,’ the statement said.
As a result, the price of petrol will remain at N.dollars 20.58 per litre, Diesel 50ppm at N.dollars 20.13 per litre, and Diesel 10ppm at N.dollars 20.23 per litre for the duration of January. The statement indicated that international oil prices declined during November 2025 due to increased global supply and weaker demand growth.
It cited higher crude oil production by major producers, including increased US shale output and changes to OPEC+ production levels. ‘As a result, global oil inventories continued to build up, indicating that supply was exceeding consumption,’ it said. The statement also noted that slower economic activity in major economies reduced expectations for fuel consumption growth, while the US dollar weakened as markets anticipated future interest rate cuts by the US Federal Reserve.
According to the ministry, the average price of Petrol 95 between 1 and 16 December 2025 was USD 80.49 per barrel, a decrease of 3.29 per cent from the November average. Diesel 50ppm fell from USD 93.90 to USD 83.78 per barrel, while Diesel 10ppm averaged USD 83.81 per barrel. It further noted that the Namibia dollar strengthened during the review period, averaging N.dollar 16.97 to the US dollar between 01 and 16 December, compared to N.dollar 17.21 in November.