The Ministry of Industries, Mines and Energy announced that fuel prices will remain unchanged for November.
According to the ministry, an analysis of international oil markets showed that oil prices dropped during October.
Brent crude oil traded at around US$61.50 per barrel, which is the lowest level since May 2025.
“This decrease was mainly due to an increase in global oil supply. OPEC+ countries have been gradually raising oil production, with another increase of 137 000 barrels per day starting in November, adding to the oversupply in the market,” said the ministry.
The ministry’s review further revealed that, from 1 to 27 October 2025, the average price of petrol 95 was US$9.77 per barrel, representing a 5.5% decrease from September’s average of US$84.41.
The average price of diesel 50ppm during the same period fell to US$87.73 per barrel, a decrease of 1.47% from US$89.04 in September.
Similarly, diesel 10ppm averaged US$88.02 per barrel, a 1.35% drop from the September average of US$ 89.23.
“During the review period, the Namibia Dollar strengthened slightly against the US Dollar. The average exchange rate stood at N$17.27 per US Dollar, compared to N$17.45 in September, showing an appreciation of about 1%,” the ministry said.
After taking all these factors into account, the ministry found that petrol 95 recorded an over-recovery of 55.266 cents per litre, while diesel 50ppm and diesel 10ppm recorded under-recoveries of 32.633 cents and 25.824 cents per litre, respectively.
To support fuel importers and ensure a stable supply of petroleum products, the ministry decided to increase the industry margin by 30 cents per litre, bringing the new margin to 219 cents per litre.
This adjustment will be funded by the National Energy Fund.
“As a result, the ministry confirmed that fuel prices will stay the same for November 2025. Petrol 95 will remain at N$20.37 per litre, diesel 50ppm at N$19.92 per litre, and diesel 10ppm at N$20.02 per litre,” the ministry stated.
The ministry said it remains committed to maintaining the stability, affordability and reliability of fuel supply across the country.