Windhoek: The Ministry of Industries, Mines and Energy announced on Friday that fuel pump prices in the region will remain stable for March 2026. This decision comes despite fluctuations in international freight and crude oil markets during the preceding month.
According to Namibia Press Agency, the ministry’s monthly fuel price review revealed that international freight rates declined in February 2026. This decrease was attributed to the easing of geopolitical tensions along crucial shipping routes and an improved availability of Very Large Crude Carriers (VLCCs). However, during the same period, crude oil prices saw an increase due to a tightening of global supply and a stronger-than-anticipated demand from major consuming economies. The production discipline maintained by OPEC and its allies played a role in sustaining upward price pressure by limiting additional output.
The ministry reported that the average price of Petrol 95 rose by 5 percent to $78.67 per barrel during February 2026, compared to $74.92 recorded in January. Diesel 50ppm saw an increase of 9.19 percent to $88.21 per barrel, while Diesel 10ppm rose by 9.30 percent to $88.37 per barrel over the same period.
Further insights from the ministry indicated a strengthening of the Namibia Dollar against the United States Dollar during the review period. From 01 to 23 February 2026, the average exchange rate stood at N.dollars 16.03 per USD, marking a 1.68 percent appreciation compared to January 2026’s average of N.dollars 16.30 per USD.
In discussions regarding dealer margins, the ministry noted a residual shortfall of two cents per litre was identified following last month’s 14-cent increase after consultations with the Fuel and Franchise Association. As a result, an additional two cents per litre adjustment has been approved, raising the dealer margin from 236 cents to 238 cents per litre, effective 04 March 2026.
The statement concluded that ULP95 would remain at N.dollars 19.58 per litre, Diesel 50ppm at N.dollars 19.63 per litre, and Diesel 10ppm at N.dollars 19.73 per litre, consistent with the prices from the previous month.