Malawi fuel prices up, threaten consumer spending

It’s a hellish time for motorists as  they have been besieged by fuel price rises and Malawians should brace for more hard times.

Malawi Energy Regulatory Authority (Mera) has raised prices of diesel and petrol effective  July 17 2018, putting more pressure on consumers.

Mera has announced the price hike on Tuesday and is expected to have  a squeeze on incomes as  rising fuel prices threaten to prevent inflation slowing.

The cost of fuel has a significant impact on the pricing of goods and services; hence, Malawians—already reeling from the pressure of reduced buying power and a depreciating kwacha—will likely be affected by the decision.

Mera chief executive officer Collins Magalasi said in a letter ro petroleum companies seen by Nyasa Times on Tuesday that following the changes, petrol has gone up to maximum retail pump from K824.70 per litre to  K888.00 per litre whereas diesel is now selling at K890.90 per litre from K815.80 per litre.

Paraffin, used mostly by industry and the majority of the poorhouseholds, is now selling at K719.30 per litre from K648.70.for the same quantity.

Magalasi said Mera board resolved to pass through only  50 percent  of Landed Cost (IBLC) of petroleum products on pump prices “ to reflect the increasing actual landed costs of petroleum products on the international market.”

He said the regulatory board chaired by Bishop Joseph Bvumbwe further resolved  that the  remaining 50 percent increase in landed costs be “cushioned by the available  funds in Prices Stabalasisation Fund.

Prices of fuel in the country have relatively been stable in the past year.

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Concerned citizen
Guest

Can you journalist, when you have time, write an article on the Air Malawi crash that happened 30 years ago where on 6 November 1987 our Malawi Air Malawi SC. 7 Sky van was shot down over Ulongwe in Mozambique.

Who did it?
Who were the sons and daughters who lost their lives, as a good number had been major creative and innovative minds of the then Press Corporation who had charter the plan.

Why did they charter the plan.

What steps were taken when it was shot down.

Is this tragic event remembered in our history?

Lino
Guest
Lino

Indedi inu. Ena ankati the target was JZU who was the chairperson of the board of directors, but he had instead chosen to drive on this fateful day. Kodi sinali 1986, just one month after Samora’s plane was ‘in fatal accident’ and rumour had it that Malawi had a hand in its demise? I remember that we almost went to war with Mozambique. That is the time Dedza air strip ploughed up by graders overnight, in fear that the camaradas would use it as attach pad. Tafufuzani ndithu.

kanchenga
Guest
kanchenga

Apparently you seem to know what happened. Why don’t you do the write up yourself. Stupid people like you like justifying your failures by claiming that because other people failed it is right to fail. No sir what happened that time it is the past. We can’t continue dwelling in the past. We know what MCP did and we don’t want it repeated. The issue here is fuel price increase not plain clash victims of the past.

concerned citizen
Guest

That’s the trend. when poor Malawians have their small salaries increased by small percentages, before they even receive the new salaries, fuel prices go up, and every commodity on the market follows that.

Ganks
Guest
Ganks

Za nzeru ndi izi………..

ndadabwa
Guest

Peter Mutharika woyee!!!!!. wachita bwino kykweza fuel. umakhwana president wanga

Dangerous DPP
Guest

Begining of troubles. Recently the biggest thief has been boasting that there had been no fuel price increases. Kaya musova a Malawi. There could be a levy going to dpp. You should not wonder why they are building more roads. Pitala gets kick backs. Kuba mdala ameneyu.

diso
Guest
diso

dangerous DPP munena zoooooooona

fido
Guest

Sha! mtawuni kuchoka ku 25 ikhala 1000 kuchoka pa 500 mayooooooo ine dpp woyeeeee

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