Fuel prices have effective tonight gone up in Malawi, Malawi24 can exclusively reveal.
Information that we have indicates that the stability of oil prices globally has prompted the Malawi Energy Regulatory Authority (MERA) to assent to the rise of fuel prices.
MERA has announced new fuel prices following a sharp depreciation of the local currency Kwacha.
Petrol is now at K743.30 from K711.90 while diesel is at K722.90 from 671.30 and paraffin will be sold at K580.80 from K522.30 per litre.
According to MERA,the price adjustments follow, depreciation of Kwacha and high fee charged during importation of the fuel from other countries.
The adjustments come in at time when the country has been rocked with economic challenges due to weaken of kwacha against major currencies.
(Additional reporting by Luke Bisani)