4 November 2016 Last updated at: 12:04 PM
Fuel prices up in Malawi
…Electricity tariffs not hiked
Fuel prices have gone up just after another adjustment last month, Malawi24 has learnt.
According to reports the new prices are with effect from today, 4th November 2016.
Diesel has gone up to MK 815.80 from MK 766.90.
Petrol has since been hiked to MK 824.70 from MK 788.30.
Meanwhile, the Malawi Energy Regulatory Authority (Mera) has said electricity tariffs have not been hiked.
The electricity tariffs remain at MK 57.72 per unit.
The statement proceeds that the hike follows MERA board’s resolution to pass on only 50 percent increases in the landed costs on the pump prices.
“Further the remaining 50% of In Bond Landed Cost (IBLC) increase be absorbed through the price stabilisation fund to cushion consumers from the impact of the increases in the landed cost of petroleum prices,” added the statement.
This fuel increase means that the Malawi Energy Regulatory Authority has increased the fuel prices twice in a period of not more than 30 days and three times since June this year.
Last month, Mera observed that FOB values for petrol, diesel, and paraffin went up by 18.26 percent, 19.86 percent and 16.88 percent in that order between the latest review and the previous one in May.