Malawi slash fuel prices by 5%, joy for motorists
Malawi Energy Regulatory Authority (Mera) has announced cheaper pump fuel prices.
MERA said it has slashed fuel prices by 5%.
The energy regulator said Petrol will be selling at K796 from K839 per litre while diesel price has dropped from K853 to K805/ltr.
Since the energy regulatory adopted the automatic pricing mechanism (APM) in June 2012, fuel pump prices are adjusted to reflect fuel price movements on the international market and pump price adjustments reflect the changes in the value of In Bond Landed Cost (IBLC) of petroleum products and movements of the kwacha against the dollar.
The APM operates within a threshold of plus or minus five percent which is also the trigger limit, meaning that a change in IBLC of more than five percent, will trigger a price adjustment.
