Fuel prices to rise as Malawi Kwacha falls

Prices of commodities in local markets are going up and cash-strapped Malawi should brace for more torrid times as fuel prices are expected to follow suit.

Panick buying as MERA is exoected to raise fuel prices

Panick buying as MERA is exoected to raise fuel prices

The price rise is expected to be discussed at a  special committee  from Ministry of Finance, Reserve Bank of Malawi (RBM) Malawi Energy Regulatory Authority (MERA)   which converges every Tuesday of the first week of every month to determine the prices of fuel.

The new prices are to come in for the  current ones which see Petrol selling at MK796.20 per litre; diesel is at K805.50 per litre and paraffin is selling at K719.30 per litre and  are scheduled to be announced in the 48 hours.

The meeting is expected to drive fuel prices up, which in turn will have a domino effect on the pricing of various commodities.

Efforts to get a comment from Mera  on the impending fuel price hike were futile as questions sent to the authority remained unanswered .

Analysts warn that cash-poor Malawians will be left  worse off given that any fuel price increase drives up the cost of other commodities.

An economic expert Dr Thomas Munthali said Malawians should brace for “tough times ahead “ with fears that the rise will have a detrimental impact on the current economic situation as the local currency, the kwacha, has continued to show signs of ceding to major international currencies, notably the United States dollar.

“There are no signs that the Kwacha will start to appreciate any sooner and because of that prices of goods and services will continue to go up,” stated Munthali.

Reserve Bank of Malawi (RBM) Governor Charles Chuka downplayed the whingeing on weakening of kwacha against other major foreign currencies.

“There is no news that the kwacha is depreciating, because we were expecting it anyway. The country still has not managed to diversify its sources of forex,” Chuka was quoted by Business News recently.

“If exporters get the right price for their dollars, they can invest more in exports. If we continue to worry about consumers like you and me and traders, then we are missing the point,” he added.

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Ambolozio
Guest

Wina afune asafune wam’misewu, baxi.

eish
Guest

APM should just die already then we won’t be having these problems!!!

Man Kho
Guest

wea my malawi going to, we r indeed in last days.

Chisinsi DM
Guest

Mr President zinayamba pang’ono pang’ono chonchi and you know what to your brother. You better think twice

opportunist
Guest

When other countries like South Africa are reducing fuel our country is thinking going the opposite .After it will be ordinary person that feel the pitch.

Kanganya
Guest

This is what Malawians wanted. Mulira kuti Pyooo! How on earth could you put DPP back in government. These hyenas were meant to get the worst votes, but sleepy malawians brought them back just after two years. Apa bolanso Amayi ngakhale zimawavuta

patriot
Guest
Malawians are treated like second class people by their own leaders because of their docility and cowardly attitude. The only thing Malawians know how to do and they do exceedingly well is to complain while their heads are buried in our armpits, period. Try this kind of treatment on South Africans or as we have just witnessed, the Burkinabes and you will see what gave the nkhanga a board head. Each successive government will always level the blame on the one before when things do not work out and the story, if it is not about cashgate, is always that… Read more »
Mgolomba
Guest

Haha, when others see disaster, the optimist sees an opportunity. The fall in the kwacha is a gud thing, but th@ is if u are an exporter,,, the problem is Malawi is an importing nation,,, and the fastest growing consumer… I expect th@ by the rule of Darwinism this fall is good for the economy because it drives the importing firms to extinction while the exporting and diversifying firms survive which is good 4 the economy in the long run…

Ntadza
Guest

What did you expect? Having DPP for the second time in Government was suicide!

syamboza
Guest

dpp ndi mbuzi mbuzi tu usless prffesors upolofesa atolela manyowa ku america nde mungathe kuyendetsa dziko. tangompatsani mwana chilimayo muone mmene amatakasila ntchito mukhalila kukwatila ndi milakho basi. nduna 168 zachilomwe mmalo mokatchera tiyi uko ife tizdimwa zilipepelepepele .

masiteni aja anali bho kwambiri. mafuta mukukwezawa mmbale wako anafera pamwamba uja dzimkamukanikaso. koma masiteni two minutes mafuta mbee. usova uwalipile ma civil servant onse opo bii national wide strike is looming

wpDiscuz

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