31/07/2026
Fuel prices increase by N$2 per litre from 5 August
Staff Reporter
PETROL and diesel prices will increase by N$2 per litre from 5 August 2026 after the Government reinstated fuel levies that had been temporarily reduced to cushion motorists against global oil price shocks.
The Ministry of Industries, Mines and Energy, Modestus Amutse, announced on Friday that the price of Petrol 95 will increase from N$22.48 to N$24.48 per litre, while Diesel 50ppm will rise from N$24.26 to N$26.36 per litre and Diesel 10ppm from N$24.36 to N$26.36 per litre.
Announcing the August fuel price review, Minister Modestus Amutse said the increase follows the reinstatement of fuel levies that had been reduced by 50% between April and July as part of Government measures to shield consumers from soaring international oil prices.
He said international petroleum prices remained volatile during July due to geopolitical tensions, global supply concerns and fluctuating demand, while higher freight costs and exchange rate movements also contributed to increased fuel import costs.
According to the ministry, the average price of Petrol 95 increased by 2.87% during the review period to US$115 per barrel, while Diesel 50ppm rose by 10.97% to US$141 per barrel.
Despite the increase, Amutse said Government intervention through an emergency fuel supply agreement and the National Energy Fund significantly reduced the impact on consumers.
He explained that the National Energy Fund would absorb diesel under-recoveries as well as part of the reinstated levies.
Without the emergency fuel supply intervention, Amutse said Namibia's motorists would have faced a massive N$6 per litre jump, sending Petrol 95 to N$28.48 per litre and Diesel 50ppm to N$30.26 per litre.
He added that Namibia has sufficient fuel stocks and that the country's fuel supply chain remains stable, with no immediate risk of shortages.
"The Government remains committed to ensuring security of fuel supply, cushioning consumers where possible and maintaining stability in the domestic fuel market while continuing to monitor developments in the international oil market," Amutse said.
PICTURED: Ministry of Industries, Mines and Energy, Modestus Amutse. Photo: MICT/Contributed