Petrol, diesel prices unchanged for September

STAFF WRITER 

The Ministry of Industries, Mines and Energy  have kept the prices of both diesel and petrol unchanged for the month of September, thanks to a favorable exchange rate between the Namibia Dollar and the greenback.

A statement released by the ministry’s Executive Director Moses Pokete on Friday said despite the favourable conditions the National Energy Fund will absorb all under-recoveries.

“To that end, the Ministry is pleased to announce that the prices of ULP 95 and both Diesel grades will remain unchanged for the duration of September 2025.

“Petrol will be maintained at N$20.37 per litre, Diesel 50ppm at N$19.92 per litre, and Diesel 10ppm at N$20.02 per litre, consistent with the previous period,”Pokote said.

Pokote said in August, the cost of unleaded petrol and automotive diesel oil declined influenced by increased U.S. oil and gas production under pro-energy policies and added more supply.

The ministry added that the lapsed deadline for the implementation of the US tariff deadline removed extra costs or uncertainties for crude oil trade, both of which put downward pressure on crude prices. 

“Weaker refinery margins limited refiners’ pricing power, and discounted Russian crude provided cheaper alternatives for buyers, further reducing the cost of petrol and diesel, with Brent crude settling at US$72.53 per barrel and West Texas Intermediate (WTI) at US$69.26 per barrel. 

“Conversely, freight and demurrage costs rose, driven by geopolitical tensions between Israel and Iran, which slowed tanker bookings from the Middle East to Asia, prompting spikes in freight rates as shipowners secured war risk premiums, while uncertainties from global conflicts and trade policies further tightened the t a n k e r  market,” Pokote said.

According to the Ministry’s latest calculations, the average price of Petrol 95 for the period 1-25 August 2025 was US$ 82.049 per barrel, representing a 0.13% decrease from the July average of US$ 82.153. In contrast, the average price of Diesel 50ppm during the same period decreased to USD 85.827 per barrel, reflecting a 5.23% decrease from USD 90.560 recorded in July.

 Diesel 10ppm followed a similar trend, averaging US$ 85.985 per barrel, a decrease of 5.36% compared to the July average of US$ 90.850.