The Malawi Energy Regulatory Authority (MERA) has announced a hike in prices of fuel.
Petrol which was at K690.50 will now be sold at K834.60 representing a 20.87 percent hike while diesel has been increased from K664.80 to K826.40 representing 24.31 percent.
MERA has raised the price of paraffin from K441.70 to K613.20 representing 38.83 percent. The new prices are effective Thursday, December 17.
MERA spokesperson Fitina Khonje told the media on Wednesday evening that the increase in prices is due to the increase in fuel landing costs. She added that the Kwacha has depreciated by 3.37 percent since May this year which has also affected the prices.
Fuel prices were last revised in May when they were reduced as part of the response to the Coronavirus pandemic.