Malawi Energy Regulatory Authority (MERA) insists that the country is selling its fuel at the cheapest rate than most countries such as the United Kingdom.
MERA Chief Executive Officer Henry Kachaje made the claim at a press briefing recently.
Kachaje gave an example of Petrol which was at K1,150 per litre in Malawi, saying in the UK Petrol is at an equivalent of K3,000 per litre.
According to Kachaje, in South Africa the commodity is at an equivalent K1,300 per litre, in Zimbabwe Petrol is being sold at an equivalent of over K2,000 per litre while in Zambia it is at equivalent K1,100 per litre.
Kachaje said countries have hiked prices of fuel since the war in Ukraine has led to high prices on the international market.
In his remarks, Minister of Energy Ibrahim Matola assured Malawians that the country has enough supply of fuel and Malawians should not panic.
“It is important to know that there is continuous movement in the volumes since there is a continuous flow of customers. At the same time, there are always arrangements in place to ensure there are deliveries and replenishment of stocks,” said Matola.
MERA has since increased price of Petrol by 20 percent and price of diesel by 31.25 percent. Price of Petrol has been increased from K1,150.00 per litre to K1,380.00, Diesel has increased from K1,120.00 to K1,470.00 per litre while Kerosene has increased from K833.20 to K956.00