Minibus operators in Malawi have cancelled plans to hold a strike on Friday but have announced that they will hike fares.
The assurance has been made by the Minibus Owners Association of Malawi (MOAM).
MOAM Secretary General Coxley Kamange told the local media that there will be no strike following an earlier warning from the minibus operators that they will not operate on Friday.
However, Kamange said minibus operators will hike bus fares starting from today regardless of the fact that pump prices have remained the same over the past six months.
He further said that they stopped regulating prices after a court tussle with Competition and Fair Trading Commission (CFTC).
Minibuses operators usually adjust prices due to fuel prices but in this case although the fuel prices are still intact, passengers will have to pay more starting today.
Recently, Malawi Energy Regulatory Authority (MERA) maintained fuel prices which were implemented in November last year.
This means that the prices remain at MK824.70 per litre for petrol, MK815.80 per litre for diesel and MK648.70 per litre for paraffin.
In a statement issued by the regulatory body and signed by its chairperson Reverend Joseph Bvumbwe, the energy regulatory body said it considered recent trends in the world petroleum products prices and changes in other macroeconomic fundamentals in the local market and their impact on energy prices.