Photo: Internet
Motorists are getting some relief at the pumps after the Ministry of Industries, Mines and Energy announced a fuel price decrease that took effect at midnight (Friday, 3 July).
Petrol 95 decreased by N$1.00 per litre, while all diesel grades dropped by N$4.00 per litre.
The ministry said international oil prices fell during June as tensions in the Middle East eased and global fuel supply conditions improved. Lower shipping costs and weaker global demand for oil also contributed to the decrease. A stronger Namibia Dollar against the United States Dollar further helped reduce the cost of importing fuel. As a result, the new fuel prices at Walvis Bay will be:
Petrol 95: N$22.48 per litre; Diesel 50ppm: N$24.26 per litre; Diesel 10ppm: N$24.36 per litre. Fuel prices in other towns were adjusted accordingly.
The ministry said the decrease follows significant over-recoveries recorded during the review period, with diesel showing particularly strong over-recoveries due to lower international product prices. In a further move aimed at keeping fuel costs under control, Government has introduced an Emergency Fuel Supply Arrangement for the period July to September 2026.
The arrangement is expected to help reduce fuel import costs by allowing fuel to be imported without additional premiums that are normally added above the Basic Fuel Price. According to the ministry, the measure will help protect consumers from unnecessary fuel price increases while also improving the financial position of the National Energy Fund (NEF), which recorded fuel price shortfalls of about N$1.3 billion during April and May this year.
The temporary arrangement will also allow time for the implementation of the Bulk Petroleum Import Coordination (BPIC) System, which is expected to improve efficiency, reduce fuel import costs and strengthen transparency in Namibia’s fuel supply chain. For consumers already feeling the pressure of rising living costs, the latest fuel price reduction is welcome news and is expected to bring some relief to household budgets and transport costs.
By Eileen van der Schyff
