Malawi Energy Regulatory Authority (MERA) has hiked fuel prices effective today, three months after another increase.
According to a statement released by MERA on Friday, price of petrol is at K932.50 from K888, diesel is at K935.60 from K890.90 while paraffin is being sold at K755.30 from K719.30.
While noting that the Malawi kwacha has remained stable at K733.95/USD since the last increase in July, the authority said the hike is due to increase in fuel prices on the international market.
“The MERA Board has noted the sustained high FOB prices of oil on the international market and resolved to revise upwards pump prices of all the three products to ensure that importers are able to fully cover importation costs and thus to enable sustained flow of petroleum products into the country,” said the authority in the statement.
MERA also increased fuel prices in July this year after maintaining the same prices for two years.