Namibian motorists face a fresh squeeze on their travel budgets, with petrol prices increasing by N$2 per litre and diesel by N$3 from Wednesday, 4 November.

For motorists preparing for festive season travel, the latest adjustment means N$100 will buy approximately 3.50 litres of petrol, 3.24 litres of Diesel 50 ppm or 3.23 litres of Diesel 10 ppm.

The Ministry of Industries, Mines and Energy (MIME) says the adjustment will see Petrol 95 retail at N$28.58 per litre at Walvis Bay, the national baseline pricing point.

Diesel 50 ppm will increase to N$30.86 per litre, while diesel 10 ppm will cost N$30.96.

The Minister of Industries, Mines and Energy, Modestus Amutse, said the fuel hike was necessitated by fluctuations in international oil prices, an increase in the cost of importing refined petroleum products, and a weaker Namibian dollar.

Previous fuel price reviews by the Ministry have cited geopolitical tensions in the Middle East, disruptions to global oil supplies, higher shipping costs and exchange rate movements as factors that drive up fuel import costs. 

The higher pump prices could also put pressure on transport and distribution costs, with potential knock-on effects on the prices of goods and services.

Pump prices in the rest of the country will be adjusted accordingly, with actual prices varying by location.
The latest increase follows several fuel price adjustments this year, adding to the pressure on households and businesses that rely on road transport.