An upsurge in international crude and refined product prices, tightening supply driven by geopolitical tensions, limited OPEC+ output growth and ongoing refinery disruptions will see domestic fuel prices go up by 21 cents a litre on Wednesday, 3 December. 

The mines and energy ministry announced the increase on Friday, which will be the third for Namibian motorists this year following a rise in prices in February (42 cents a litre) and March (50 cents a litre). 

The new pump prices at Walvis Bay will be Petrol 95 at N$20.58 per litre, Diesel 50ppm at N$20.13 per litre and Diesel 10ppm at N$20.23 per litre. 

The ministry on Friday announced the increase that will be implemented on all fuel products, with fuel prices across the country adjusted accordingly. 

“This is not an ideal way to enter the festive season. We will definitely feel the impact on our pockets, but as always, we will just have to adapt,” a concerned motorist commented. 

Meanwhile, the ministry pointed out that, while consumers will have to incur higher costs at the service stations, the National Energy Fund (NEF) will contribute significantly by absorbing the remaining under recoveries on diesel, amounting to approximately N$145 million.  

“This intervention is intended to ensure the continued security of fuel supply in the country and to safeguard consumers from bearing the full amount of the diesel under-recoveries,” the ministry stated. 

The ministry added that sanctions on Russian oil exports have reduced the availability of oil supply, while OPEC+ stopped output increases, thereby preventing additional barrels from entering the global market. 

“At the same time, global demand rebounded in major consuming economies such as the United States, China and Nigeria. Given the above-mentioned factors, the cost of imported fuel increased, contributing to higher pump prices in Namibia for December 2025,” the ministry stated. 

The Ministry’s latest calculations revealed that the average price of Petrol 95 from 1 November to 21 November 2025 increased by 4.1% compared to the October average. 

During the same time frame, both grades of Diesel increased by 8.3%. 

“Based on the outcomes of the preceding input factors and other parameters considered in the fuel pricing mechanism, the model recorded under-recoveries on Petrol of 21.21 cents per litre, while Diesel 50ppm and Diesel I0ppm recorded under-recoveries of 156.51 cents per litre and 150.1 1 cents per litre, respectively”, the ministry stated. The statement added that as Namibia remains a net importer of fuel, the ministry will continue balancing cost recovery with consumer protection to ensure the sustainable supply of petroleum products across the country.