IMELDA AMBONDO
Fuel pump prices will remain unchanged in March 2026 despite significant under-recoveries recorded for diesel, the Ministry of Industries, Mines and Energy has announced.
The ministry’s executive director, Moses Pakote, said the fuel price review for March 2026 had been completed and the decision was confirmed in a media release issued on 27 February.
Pakote said international shipping costs declined during February due to easing geopolitical tensions and improved vessel availability, which increased the supply of large crude carriers and lowered transportation costs.
“At the same time, crude oil prices increased during the same period due to tightening global supply and stronger-than-expected demand from major consuming economies,” he said.
Production decisions by OPEC and its allies also limited output, keeping prices elevated, while uncertainty in key oil-producing regions added further upward pressure.
According to the ministry, the average price of Petrol 95 rose to US$78.67 per barrel (N$1,261.11), representing a 5% increase from US$74.92 per barrel (N$1,200.47) in January. Diesel 50ppm increased by 9.19% to US$80.79 per barrel (N$1,295.09), while Diesel 10ppm rose by 9.30% to US$88.37 per barrel (N$1,417.10).
The Namibia Dollar strengthened against the US Dollar during the review period, averaging N$16.03 per US Dollar, representing an appreciation of 1.68% compared to January.
Based on the fuel pricing model, Petrol 95 recorded an over-recovery of 5.04 cents per litre. However, Diesel 50ppm recorded an under-recovery of 40.04 cents per litre, while Diesel 10ppm recorded a larger under-recovery of 89.77 cents per litre.
The ministry also announced that the dealer margin for fuel retailers will increase by 2 cents per litre, bringing it to 238 cents per litre, effective 4 March 2026.
“To that end, the Ministry has resolved to maintain the current fuel pump prices for March 2026,” Pakote said.
Fuel prices will therefore remain at N$19.58 per litre for Petrol 95, N$19.63 per litre for Diesel 50ppm, and N$19.73 per litre for Diesel 10ppm.
The ministry said it will continue monitoring global oil market developments to safeguard local fuel price stability.
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