Malawi Energy Regulatory Authority(Mera) is reported to have increased the fuel pump prices which could be affected on Friday.
There was panic buying by motorists on Thursday after Malawi’s flagship daily The Nation reported that the new fuel pump prices could be affected on Friday, November 9 2012.
Most motorists were buying the fuel in large quantities and others were reportedly hoarding the commodity as they brace for tough times.
Last month MERA announced the reversal of price hike of fuel only hours after announcing a price increase effectively retaining old fuel prices which were hiked by 5.79 percent, 6.30 percent and 8.20 percent for petrol, diesel and paraffin, respectively.
During its monthly price review meeting held Tuesday this week, according to the published report, he regulatory body has recommended that petrol should be sold at K606.30 per liter, up from the current K539 per liter while diesel will be sold at K597.40 from K521.90 per liter and paraffin from K434.30 to K509.90 per liter.
When MERA revered the fuel price hike, Consumers Association of Malawi (Cama) described it as suspicious and political.
CAMA boss John Kapito said the decision “was made in a political room by someone who realises that such price hikes are digging his or her own grave.”
According to Kapito, the Joyce Banda administration simply postponed “their burial when practically they are already dead.”