By: Nghiinomenwa-vali Erastus
The Minister of Industries, Mines and Energy will provide an update on the status of Namibia’s fuel supply security today.
This comes against the backdrop of ongoing geopolitical tensions in the Middle East between Iran, Israel, the United States of America, and other states in the region.
The tensions are centred around the control of the Strait of Hormuz, through which about 20% of the world’s fuel supply is transported, affecting global supply of refined and crude fuel products to nations around the world. Namibia is also affected by this, as it imports a bulk of its fuel from the Middle East and Asia.
Moreover, these tensions have driven up prices of crude and refined petroleum prices around the world.
However, these changes are yet to be priced domestically, as the Ministry makes its announcement today. The prices of petrol and both diesel variants (diesel 50ppm and diesel 10ppm) were unchanged last month after an over-recovery of 5.04 cents per litre for petrol, an under-recovery of 40.04 cents per litre for 50ppm diesel, and 89.77 cents per litre for 10ppm diesel.
Petroleum oils are the most imported product dominating the import list every month. In January 2026, it accounted for 16.9 percent of total imports.
Every month, the country spends more than N$1 billion to import fuel, however, with fuel prices fluctuating, the country is expected to spend more, which will reflect at the pump price. Currently, pump prices in Walvis Bay are at N$19.58 per litre for petrol, N$19.63 per litre for diesel 50ppm, and N$19.73 per litre for diesel 10ppm.
The domestic increase will also depend on the ability of the government’s petroleum fund to stomach the difference in prices.
Namibia has invested in an oil storage which was built for around N$5 billion, with the objective of storing and cushioning domestic consumers from the volatility of oil prices.
It has been noted that at full capacity, the storage unit can supply the country for 3 months.
erastus@thevillager.com.na
