US emerges as Namibia’s major fuel source

Namibia increased its imports from the United States (US) in the second quarter of 2026 as disruptions to traditional fuel supply routes forced importers to look for alternative sources.

The US became Namibia’s second-largest source of imports, with its share of Namibia’s total imports rising to 11.5% from 2.7%, according to the Bank of Namibia’s latest quarterly bulletin.

The central bank says the increase was largely driven by mineral fuels, which made up 73.2% of Namibia’s imports from the US.

The shift came as conflict in the Middle East disrupted established oil supply routes and pushed up international oil and shipping costs.

The Bank of Namibia says these disruptions contributed to a significant change in where Namibia sourced its fuel.

“Disruptions to traditional fuel supply routes stemming from the Middle East conflict contributed to a shift in Namibia’s import sourcing patterns during the second quarter of 2026,” the central banks says.

The change is significant because Namibia has traditionally sourced a large share of its fuel from countries in the Gulf Cooperation Council (GCC).

Before the disruptions, GCC countries supplied an estimated 40% to 45% of Namibia’s mineral fuel imports.

That share fell to less than 30% during the second quarter, according to the central bank.

Oman also gained ground as importers adjusted their sourcing. Its share of Namibia’s imports increased from 3.7% to 4.2%.

The change in suppliers came as Namibia’s overall fuel import bill increased.

Payments for mineral fuel imports increased by 75.3% year on year (y/y) and 49.2% quarter on quarter (q/q) to N$9.5 billion during the second quarter.

The central bank attributes the increase largely to higher international fuel prices following supply disruptions.

Brent crude rose by 34% y/y and 25% q/q, averaging US$97 (N$1 596.62) a barrel during the quarter.

The central bank says the disruption was particularly significant because shipping routes through the Strait of Hormuz were affected.

“With global oil supply routes through the Strait of Hormuz disrupted, international oil and petroleum product prices, as well as international shipping freight costs increased sharply,” it says.

The higher international prices eventually reached Namibia’s fuel pumps.

During the quarter, petrol rose to N$22.48 a litre, while diesel 50ppm reached N$24.26 and diesel 10ppm N$24.36.

The government intervened to limit the impact on consumers by using the National Energy Fund’s equalisation fund and temporarily reducing the fuel levy component of the pump price.

The fuel shock also affected public transport costs, with the Ministry of Works and Transport approving a 15% increase in taxi and bus fares from 18 May, citing rising fuel and operating costs.

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