Fuel prices went down effective on Thursday, Malawi Energy Regulatory Authority (Mera) has announced.
The energy regulatory body said petrol prices is down from K694.30 to K680.80 per litre, diesel from K677.20 to K657.40 per litre. However, paraffin for domestic use remains at at K177 per litre.
This reduction, the second successive this year, follows the appreciation of kwacha currency from 390 to 339 to to one US dollar, combined with the reduced landing costs of petroleum products.
The news of the reduced fuel prices excited motorists.
Meanwhile, Malawi government has urged companies to reduce goods and services prices following the increase in the buying power of the Kwacha currency.
Minister of Information, Moses Kunkuyu, who is government spokesman said authorities will pursue companies who defy the call and threatend that “proper penalties” would be unleashed to them.
Government has deemed the charging of “exorbitant” prices as ruthless robbery on the unsuspecting Malawians of their hard-earned money, more especially now that every Malawian should start reaping the economic fruits brought about by President Joyce Banda’s Economic Recovery Plan (ERP).
“Malawi has undergone positive economic reforms which have brought about the reduction in fuel pump prices. This should have automatically translated to the immediate reduction in goods and services prices that largely depend on fuel,” said the government spokesman.
He disclosed that government through the Ministry of Trade and Competitions and Fair Trade Commission, will launch “an inspection of shops and companies to appreciate their prices and take decisive action where necessary.”
Government is also asking the Consumers Association of Malawi (CAMA) to come out as vocal and vehement against the companies as it was against government during the negative effects of the Kwacha depreciation.
“It would be naïve for the able leadership of CAMA to remain silent now when it vehemently blamed government for the resultant negative effects of the Kwacha. CAMA should be up in arms all the time against any institutions and individuals that make a consumer’s life miserable,” he said.
Cama executive director John Kapito laughed off government’s call and recalled that at a time when the kwacha was depreciating fast, government snubbed calls by Cama to contain soaring prices as it argued the market is liberalised.Follow and Subscribe Nyasa TV :