Windhoek: Fuel prices will increase from Wednesday, with petrol 95 rising to N$24.48 per litre, diesel 50ppm to N$26.26 per litre, and diesel 10ppm to N$26.36 per litre, Minister of Industries, Mines and Energy Modestus Amutse announced on Friday.
According to Namibia Press Agency, the increase of 200 cents per litre on both products followed the reinstatement of a 50% reduction on selected fuel levies, effective 05 August 2026. The levy reduction had been in place since April 2026 to cushion consumers against rising international oil prices and was extended by a further month in July.
"Considering that the global oil market has now relatively stabilised despite the continuation of tensions in the Middle East, the government has resolved to reinstate the 50% levy reductions for all affected institutions in order to boost their coffers and enable the implementation of their critical budget items," Amutse said. He highlighted that the levies fund statutory obligations and strategic programmes, including the road user charge levy, used for road infrastructure development.
According to the ministry, the average price of petrol 95 for the period from 01 to 27 July 2026 stood at US$115.160 per barrel, marking a 2.87% increase from the June 2026 average of US$111.948. Diesel 50ppm increased by 10.97% to US$141.092 per barrel, while diesel 10ppm rose by 11.10% to US$141.684 per barrel over the same period. The average exchange rate stood at N$16.4250 per United States dollar, a depreciation of about 0.24% from the June 2026 average of N$16.3850.
As of 27 July, the ministry recorded a provisional over-recovery of 2.976 cents per litre on petrol 95, and under-recoveries of 17.985 cents per litre on diesel 50ppm and 14.132 cents per litre on diesel 10ppm. "The National Energy Fund will absorb the diesel under-recoveries as well as a remaining levy portion of 2.95 cents per litre, limiting the pump price increase to 200 cents per litre," said Amutse.
He also mentioned that an emergency fuel supply arrangement concluded with Vitol, under which Namibia procures fuel at a Basic Fuel Price flat rate, had shielded consumers from import premiums that have ranged between N$0.50 and N$4.00 per litre in recent months. "Consequently, without Government's emergency fuel supply intervention, the pump prices at Walvis Bay would have increased by approximately 600 cents per litre for both grades of petrol and diesel," Amutse said, adding that petrol 95 would have cost N$28.48 per litre, Diesel 50ppm N$30.26 per litre, and Diesel 10ppm N$30.36 per litre.
Prices across the rest of the country will be adjusted according to transport differentials, effective Wednesday. Amutse assured that the country currently maintained adequate fuel stocks and that the fuel supply chain remained operational and stable, with sufficient stockholding levels maintained by oil marketing companies to meet national demand.