Domestic fuel prices for both petrol and diesel will remain unchanged for December 2024.The mines and energy ministry has considered the need to shield Namibians from volatile international prices. This means the fuel prices at the port of import will remain at N$20.25 per litre for petrol, N$19.72 for diesel 50ppm and N$19.82 for diesel 10ppm. 

The ministry stated that international market dynamics led to differing pricing trends for petrol and diesel. This is as the price of petrol decreased due to reduced demand in China, where consumption has been declining for months. Meanwhile, diesel prices experienced a slight increase, driven by tighter supply, particularly in major oil-producing countries due to ongoing sanctions on Russian defined products, which have led to relatively scarcity of diesel. The depreciation of the Namibia dollar against the United States dollar also contributed to increased oil prices. 

The ministry noted that these contributing factors, coupled with additional parametres, resulted in an over-recovery of 26.7 cents for petrol and under-recoveries of 43.8 cents per litre for diesel 50ppm as well as 34.1 cents per litre for diesel 10ppm.