Fuel Prices goes up by 28.8 percent
The Malawi Energy Regulatory Authority (Mera) has announced an increase in fuel pump prices by 22.8 percent.
The fuel regulating body, says the increase is on average and will be effective from Sunday, October, 11th.
Making the announcement Saturday evening Mera chief executive officer (CEO) Henry Kachaje said petrol will now be sold at K1, 150 from K899.20, representing a 27.89 percent increase.
Diesel pump price has been increased by 24.72 percent, to be selling at K1, 220 from K898 while paraffin price has been increased by 15.79 percent and this means it will now be selling at K833.20 from K719.60.
Kachaje attributed the development to international fuel price increase and recent depreciation of the Kwacha by 4.5 percent.
Said Kachaje: “The fuel prices have increased on the global market and therefore that has consequently affected the local pricing.
“The other contributing factor is the recent devaluation of the kwacha against the dollar.”
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