Windhoek: The Ministry of Industries, Mines and Energy announced on Saturday that fuel prices for November will remain unchanged.
According to Namibia Press Agency, the Ministry’s spokesperson, Anna Salkeus, stated that an analysis of the international oil and petroleum markets for October 2025 revealed that oil prices have been under pressure, with Brent crude trading at around USD 61.50 per barrel, marking its lowest level since May 2025. This decline is attributed to concerns over a growing global oil surplus. OPEC+ has been gradually increasing oil production, with a planned rise of 137,000 barrels per day starting in November 2025, contributing to the oversupply in the international market.
Salkeus explained that the market faces a delicate balance as OPEC+ aims to stabilize prices through controlled production increases. However, the International Energy Agency’s (IEA) surplus forecast and slower demand growth suggest potential downward pressure on oil prices, which has contributed to the observed reduction in the cost of petroleum products, specifically Unleaded Petrol (ULP) and Automotive Diesel Oil (ADO).
She further added that, according to the Ministry’s latest calculations, the average price of Petrol 95 for the period of October 1-27, 2025, was USD 79.770 per barrel, representing a 5.5 percent decrease from the September average of USD 84.409. In contrast, the average price of Diesel 50ppm during the same period decreased to USD 87.730 per barrel, reflecting a 1.47 percent decrease from USD 89.042 recorded in September. Diesel 10ppm followed a similar trend, averaging USD 88.023 per barrel, a decrease of 1.35 percent compared to the September average of USD 89.227.
Salkeus noted that the Namibia Dollar strengthened against the US Dollar during the review period, appreciating from the September 2025 average of N.dollars 17.4499. Based on the outcomes of the preceding input factors and other parameters considered in the fuel pricing mechanism, the model recorded an over-recovery of 55.266 cents per litre for ULP95, while Diesel 50ppm and Diesel 10ppm registered under-recoveries of 32.633 cents per litre and 25.824 cents per litre, respectively, during the review period.
Additionally, the Ministry has resolved to increase the industry margin by 30 cents per litre, bringing the new margin to 219 cents per litre. Consequently, petrol will remain at N.dollars 20.37 per litre, Diesel 50ppm at N.dollars 19.92 per litre, and Diesel 10ppm at N.dollars 20.02 per litre, consistent with the previous period.