The Namibian Ministry of Industries, Mines and Energy has announced that fuel prices will remain unchanged for July 2025, despite significant under-recoveries driven by rising global oil costs.
The decision aims to provide relief to consumers amid ongoing economic challenges.
Geopolitical tensions in the Middle East, particularly the conflict between Israel and Iran, have pushed crude oil prices higher. Extended OPEC+ supply cuts have further tightened global supply, while increased freight and shipping costs — due to tanker shortages and rerouted vessels — have added to financial pressures. Delays in shipments and longer port waiting times have also contributed to rising import costs.
From 1 to 24 June 2025, the average price of Petrol 95 rose to USD 84.47 per barrel, a 7.8% increase from May’s average of USD 78.37. Diesel 50ppm reached USD 85.50 per barrel, up 9.5%, while Diesel 10ppm climbed to USD 85.84 per barrel, reflecting a 9.7% rise.
A slight strengthening of the Namibia Dollar against the US Dollar provided minor relief, with the average exchange rate improving to N$17.85 per USD, a 1.5% appreciation from May’s average of N$18.12. However, the fuel pricing model still recorded under-recoveries of 53.01 cents per litre for petrol, 59.79 cents for Diesel 50ppm, and 53.54 cents for Diesel 10ppm.
To protect consumers, the National Energy Fund (NEF) will absorb the full under-recoveries. Pump prices in Walvis Bay will therefore remain unchanged:
- Petrol 95: N$20.37 per litre
- Diesel 50ppm: N$19.92 per litre
- Diesel 10ppm: N$20.02 per litre
The Ministry reaffirmed its commitment to monitoring the volatile global oil market, acknowledging that ongoing geopolitical tensions and rising prices continue to pose challenges. Balancing price stability with consumer protection remains the government’s priority.
Source: Further Africa
