Malawi raises fuel prices: Tough economic times ahead

Malawians should expect  more economic tough times  ahead as prices of goods are expected to go up following the latest move by the Malawi Energy Regulatory Authority (MERA) to hike fuel prices,  a move that is likely to push up prices for maize in the country where there are already food shortages.fuelhike_reactns1

The price increase is partly in response to weakness in Malawi’s kwacha currency against the U.S. dollar as well as changes in the cost of importing the fuel.

Fuel prices went up again in March this year and the new fuel prices are with effects from 10th June, 2016.

Petrol has risen from K743.30 to K788.30 on retail, Diesel has gone up from K722.80 to K766.90 while Paraffin will be selling at K609.80.

On wholesale price, Petrol will now be sold at K722.450, Diesel at K701.05 while paraffin will be purchased at K543.95 per litre.

MERA said the combined effect of the movement of import prices and the kwacha exchange rate against the dollar had increased the cost of petrol and diesel.

Chief Executive Officer  or MERA, Raphael Kamoto,  said: “This follows assessment of the impact in the movement in the international oil prices exchange rate of the Kwacha to the US dollar and other Macro-economic fundamentals on the landed costs of the three products.”

The falls in the kwacha combined with a poor harvest last year has helped to increase inflation to 24 percent. Food prices have risen putting pressure on lower-income households.

Follow and Subscribe Nyasa TV :

Please share this Article if you like Email This Post Email This Post

More From Nyasatimes

More From the World

Sort by:   newest | oldest | most voted
muzungu
Guest
muzungu
3 months 16 days ago

why not 1000MK per liter

Chaponda
Guest
Chaponda
3 months 19 days ago

The blame is to us the Malawians ourselves. We are just like we are all dead. Civil servants Trade Union is full of dead wood. This Government is there to make sure that Malawians suffer to the highest level. I will be not surprised in a few months when i will be reading/ hearing about another cash-gate in the civil service.

Zinziri
Guest
Zinziri
3 months 19 days ago

Yalakwa

Pax Romana
Guest
Pax Romana
3 months 19 days ago

Akanati kale limabwerera, bwenzi anthu ambiri atachita REWIND

Nolimit
Guest
Nolimit
3 months 20 days ago

KOMA MALAWI WANUNKHADI NDIYE TIZIPITA KUTI KUNKAPEZA MTENDERE? SALARY INCREMENT IN CIVIL SERVICE 15% HOW WE CAN SURVIVE? KODI MA CIVIL SERVANT MULI MULIPO? EEESH! HARD TIMES.

Mndambala
Guest
Mndambala
3 months 20 days ago

Koma yaaaa ziliko

wpDiscuz