BLANTYRE (Papius Liwonde, Malawi NewsNow)-The Malawi Energy Regulatory Authority (Mera) on Thursday adjusted upward fuel pump prices effective this Friday, citing the rising costs of petroleum imports.
According to a statement released by MERA signed by its Chairman Reverend Dr. Joseph Bvumbwe said the costs of importing a tonne of petrol had risen A nd changes in other Macro-Economic fundamentals in the local market .
In a statement, Mera said the price of petrol has increased to – K824.70 from K788.30. -Diesel will be sold at K815.80 from K766.90. -Paraffin will be selling at K648.70 from K609.80.
This represents a 11.02%, 18.66% and 16.37% respectively.
The statement reveals that Kwacha has depreciated against the United States Dollar (USD) trading at K729.63 per USD at the time of review from K715.00 per USD as noted in June 2016.