The Namibian government has resolved to reduce the price of petrol by 80 Namibian cents per liter (about $0.044).

Similarly, diesel 50ppm will be leased by 60 Namibian cents per liter, and diesel 10ppm at 70 Namibian cents per litre from Wednesday.

The country’s Ministry of Mines and Energy (MME) announced this in a statement on Tuesday.

The ministry said that the pump price of petrol in Walvis Bay would be 22.20 Namibian dollars per litre, while diesel 50ppm would be available at 21.57 Namibian dollars.

“Fuel prices across the rest of the country will be adjusted accordingly.

“Oil prices recently dropped to a four-month low following the announcement by the Organisation of the Petroleum Exporting Countries and its allies that they would maintain overall production levels steady until the end of 2025,” it added.

The ministry noted that the exchange rate for June 1 to June 25 showed a moderate 0.1 percent depreciation of the Namibian dollar against the United States dollar, which had a negligible impact on the overall drop in oil prices.

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