MERA dismisses rumours about hike on fuel prices

The Malawi Energy Regulatory Authority (MERA) has dismissed rumours circulating on social media speculating that prices of petroleum products have been revised upwards amidst shortage of Liquefied Petroleum Gas (LPG), petrol, diesel and paraffin.

Fuel prices maintained

The Authority, in a statement issued on Thursday and signed by its Board Chairperson Leonard Chikadya, assures motorists and the public at large that the country’s major importers have put in place financial instruments to ensure fuel supplies continue to roll in to meet national requirements and demand.

“The Authority would like to inform the general public that the prices of Liquefied Petroleum Gas (LPG), Petrol, Diesel and Paraffin have not been revised and that there are adequate fuel stocks in the country.

“Following an assessment of the effect of the movement of Free-On-Board prices, the exchange rate of Malawi Kwacha against major trading currencies and changes in local factors, the MERA Board has resolved to maintain prices of LPG, Petrol, Diesel and Paraffin as established in October 2021.

“The prices have been maintained as follows: petrol @ K1, 150, diesel @ K1, 120, kerosene @ K833.20 and LPG @ K2, 175 per kilogramme,” reads the statement in part.

Chikadya has since appealed for an end to unnecessary speculation which could cause anxiety and panic buying.

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