Malawi fuel prices maintained

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The Malawi Energy Regulatory Authority (MERA) has maintained prices of petrol, diesel and paraffin.

This is according to MERA’s press statement dated December 8 and signed by its Chief Executive Officer Collins Magalasi.

Fuel

Petrol still remains at K824.70, Diesel remains K815.8 and Paraffin is at K648.70 per litre.
Magalasi in the statement says the development follows consideration of the recent trends in the world petroleum products prices and changes in other macroeconomic fundamentals in the local market and their impact on energy prices.

The statement further says MERA assessed the combined effect of the movement of the FOB prices and exchange rate of the Malawi Kwacha to the US Dollar as well as changes in local factors that determine the maximum pump prices and noted that the landed cost of Petrol, diesel and paraffin increased by 15.35%, 23.51% and 23.28%, respectively.

The change in the landed costs for all the three products is beyond the 5% trigger limit which qualifies petrol, diesel and paraffin for an upward pump price adjustment.

The MERA Board, however, resolved to maintain pump prices for all the three products and apply the accumulated funds in the Price Stabilisation Fund (PSF) to cover the increased landed cost of the three products.

Magalasi in the press release says all operators are required to sell petroleum products at prices not exceeding these maximum pump prices.

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