Namibia petrol prices to rise amid surging international oil costs

Namibia’s petrol prices are set to rise to N$26.58 per litre effective 7 October. The Ministry of Industries, Mines and Energy approved a N$1.50 per litre increase for unleaded 95 petrol, while diesel prices will remain unchanged.

The adjustment follows a surge in international refined petroleum product prices during September. The average international price for Petrol 95 rose 19.27% to US$148.364 per barrel. The Ministry attributed the rising costs to geopolitical tensions and supply disruptions in the Middle East, including attacks on oil infrastructure and constraints in the Strait of Hormuz. Additionally, a weaker Namibia dollar and higher shipping costs have increased the cost of fuel imports.

With this increase, Namibia’s petrol prices will exceed those in Botswana, Zambia, Lesotho, and Eswatini. Namibia’s price remains slightly below South Africa’s N$26.92 per litre, while Zimbabwe remains the most expensive in the regional comparison at N$33.90 per litre.