Fuel prices will rise effective 1 April 2026 due to surging global oil prices.
The government says it remains committed to ensuring a stable, reliable, and secure supply of essential resources while proactively addressing risks.
The price of petrol will increase by N$2.50, while both diesel products will go up by N$4.00 per litre.
The Minister of Industries, Mines and Energy explained that Cabinet has resolved to reduce fuel levies by 50% for three months to mitigate the impact on consumers.
Modestus Amutse also assured the public that the country has sufficient resources to sustain supply for another two months.
“At this stage, there are no supply disruptions affecting Namibia. The risk we are managing is primarily price-related.”
He added that the Ministry has taken note of reports of panic buying by consumers. However, he assured the public that there is no need for concern at the moment.
“Namibia is a net importer of petroleum, with no operational oil refineries. Our annual consumption is roughly between 1.1 billion liters, of which 70% is diesel and 30% petrol—equating to approximately 100 million liters of petrol and diesel consumed monthly."
He highlighted that international oil prices increased sharply during March, mainly driven by escalating geopolitical tensions in the Middle East between the United States, Israel, and Iran.
Amutse noted that these developments have increased market uncertainty and risk premiums, leading to higher international crude and petroleum product prices.
“The weakening of the Namibian dollar against the US dollar has further increased the cost of importing petroleum products into Namibia.”
Amutse explained that the average price of unleaded petrol for the period 1 to 23 March 2026 was about US$124.92 per barrel, representing an increase of 56.9% from the February 2026 average of US$79.60.
In contrast, the average price of diesel during the same period increased to US$179.53 per barrel, representing a 122.1% rise from the previous US$88.92 recorded in February 2026.
Diesel 10ppm followed a similar trend, averaging US$197.90 per barrel—an increase of 122.2% compared to the February 2026 average of US$89.06 per barrel.