Dear Esteemed Stakeholder,

The Ministry would like to communicate its November 2024 fuel price review decision as follows:

That the Ministry recorded:

1.       under-recoveries of 6.292 cents per litre for petrol

2.       under-recoveries of 18.543 cents per litre for 50ppm diesel

3.       under-recoveries of 10.736 cents per litre for 10ppm diesel

Therefore, the Ministry is hereby announcing that petrol prices and the diesel prices of both variants (diesel 50ppm and diesel 10ppm) will remain unchanged during November 2024. The National Energy Fund will absorb the entirety of the incurred under-recoveries.

In Walvis Bay, the price of petrol will thus remain N$20.25 per litre, diesel 50ppm will remain N$19.72 per litre, and diesel 10ppm will remain N$19.82 per litre.

Moreover, the Ministry resolved to extend the temporary relief margin of 20 cents per litre granted to oil importers for an additional three months (October – December 2024). This relief margin is expected to be discontinued once the implementation of the Bulk Petroleum Import Coordination System becomes effective on the date to be announced in the near future.

Kindly find the attached detailed release to that effect.

Download media release