Windhoek: Minister of Industries, Mines and Energy, Modestus Amutse, has announced a rise in fuel pump prices for April, attributing the increase to sharp rises in global oil prices and the depreciation of the Namibia Dollar. Government approval has been secured for an increase of N.dollars 2.50 per litre for petrol and N.dollars 4.00 per litre for all diesel grades, effective from 01 April 2026.
According to Namibia Press Agency, Amutse highlighted during a media briefing at the Government Information Centre that the escalation in international crude oil and refined fuel prices in March was primarily due to ongoing geopolitical tensions in the Middle East, involving nations such as the United States, Israel, and Iran. Concerns over potential supply disruptions, particularly around key shipping routes like the Strait of Hormuz, have also driven up freight and insurance costs.
Amutse detailed that the average international price of 95 octane petrol surged by 56.9 percent from February, reaching N.dollars 2 143.83 (US.dollars 124.92) per barrel, while diesel prices increased by over 122 percent to approximately N.dollars 3 380.84 (US.dollars 197) per barrel over the same period. Concurrently, the Namibia Dollar weakened to an average of N.dollars 16.62 against the US Dollar. These factors cumulatively resulted in significant under-recoveries of N.dollars 6.02 per litre for petrol and more than N.dollars 12 per litre for diesel, prompting the price hike.
To alleviate the impact on consumers, Amutse announced that the Cabinet has decided to temporarily reduce fuel levies by 50 percent for three months starting 01 April, with the National Energy Fund set to absorb approximately N.dollars 500 million in remaining under-recoveries. He reassured the nation that despite global instability, Namibia is not facing any risk of fuel shortages, as the country's supply chain remains robust with coordinated import schedules, adequate storage facilities, and regular stock monitoring.
Amutse emphasized that the current challenges are price-related, not availability-related, and urged the public to refrain from panic buying, unnecessary hoarding, and illegal fuel resale, warning that storing fuel unsafely poses significant hazards. The government remains committed to ensuring a secure, stable, and affordable fuel supply for all Namibians, and authorities will continue to monitor global developments and implement measures to protect consumers.