The Malawi Energy Regulatory Authority (MERA) has slashed pump prices with effect from today.
Petrol is now being sold at K923.50 from K990.30, Diesel is at K946.60 from K990.40 while Paraffin is now at K781.50 from K785.00.
The new prices represent 6.75 percent slash for Petrol, 4.12 percent for Diesel and 0.4 percent for Paraffin.
MERA, in a statement dated 14th December, says it has reduced the prices because of a decrease in world fuel prices in the month of November.
A month ago, MERA adjusted fuel prices upwards despite fuel prices being reduced on the international market.
The development attracted condemnation from Malawians who faulted the decision to have fuel prices increased.
Vice President Saulos Chilima and Leader of Opposition Lazarus Chakwera were not happy with the hike saying government wanted to use the money for campaign. They both called on the Peter Mutharika administration to reverse the hike.