After its monthly review, the Ministry of Industries, Mines and Energy has decided to keep the fuel price for November unchanged.

This comes after the analysis of international oil and petroleum markets in October 2025, which showed that oil prices have been under pressure, with Brent crude trading around US$61.50 per barrel, its lowest level since May 2025.

This decline is attributed to concerns over a growing global oil surplus. 

OPEC has been gradually increasing oil production, contributing to the oversupply in the international market.

According to the Ministry's latest calculations, the average price of Petrol 95 for the period of the 1st to 27th of October 2025 was US$79.77 per barrel, representing a 5.5% decrease from the September average of US$84.40.

The Namibian Dollar has also contributed, as it has strengthened against the US Dollar during the review period. From the 1st to 27th of October 2025, the average exchange rate stood at N$17.27 per USD, reflecting a 1% appreciation compared to the September 2025 average of N$17.44.

Based on the outcomes of the preceding input factors and other parameters considered in the fuel pricing mechanism, the model recorded an over-recovery for both petrol and diesel prices.

The Ministry has also resolved to increase the industry margin by 30 cents per litre, bringing the new margin to 219 cents per litre. The industry margin is a critical component of ensuring the financial sustainability of fuel importers, allowing them to maintain a fair return on their investments and a reliable supply of petroleum products across the country.