Mera says no guarantee fuel pump prices will not rise

Malawi Energy Regulatory Authority (MERA) says it has maintained the pump price of petrol but raised the price of gas and gave no guarantees that the pump pruces for the petrloleum will be maintained  in the near future.

Fitina Khonje,: We are unable to make a forecast because we import fuel and there are so many dynamics at play which can influence price changes.

Petrol qualified for an upward adjustment in April.

Fitina Khonje, MERA Consumer Affairs and Public Relations Manager,  disclosed this in Blantyre when she briefed journalists the results of the monthly review of electricity and energy prices in the country.

“Exchange rate and Free On Board prices are the factors which affect prices of petroleum products in the country.  On average, Petrol FOB and exchange rate resulted in 10 percent increase in the month of March, beyond the 5 percent bar in the month of March,” said Khonje.

Khonje adds that MERA has used Price Stabilisation Fund to cushion the pressure and maintain the price of Petrol.

She said :”Within the month, both diesel and paraffin experienced an increase of 2 percent, and this has prompted MERA to maintain the prices.”

The Energy Regulator  has announced a 5.79 percent adjustment of liquefied gas which during the month of March hit a 12 percent increase.

MERA has also maintained prices of jet fuel.

Khonje, however, said the regulator cannot make a forecast because they import fuel and “there are so many dynamics at play which can influence price changes.”

Tuesday of the second week of each month, the board of MERA meets to review electricity tariffs and fuel prices in the country.

Fuel prices were last adjusted in March this year.

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