Motorists will not need to budget for extra fuel during the festive season, as petrol and diesel prices will remain unchanged in January 2025.

The fuel price trends in December showed a moderate rise in diesel prices, driven by the continued uptick in global demand.

In contrast, petrol prices softened due to relatively stable global supply and lower off-season demand in major consuming regions.

Additionally, as oil is traded in the United States Dollar in the international oil markets, the weaker Namibia Dollar has further contributed to higher diesel prices. 

The Namibia Dollar traded at an average of 17.96 cents per US Dollar, marking a 0.1% depreciation against the US Dollar since the end of November 2024.

The Ministry of Mines and Energy remains hopeful that the market will improve and be favourable, especially for net fuel-importing countries like Namibia.