By Chancy Namadzunda:
The Malawi Energy Regulatory Authority (MERA) has announced a reduction to petrol pump price with 10.28%.
The reduction comes at a time when there was growing pressure on authorities to act on the recent fuel scarcity in the country which has resulted in some unscrupulous individuals selling the commodity at exorbitant prices.
MERA says the reduction is as a results of recent trends in the
world petroleum products prices and their impact on energy prices.
MERA has also attributed the reduction to the recent stability of the Malawi. Kwacha.
“Since the last In Bond Landed Cost (IBLC) review in July 2022 for petrol and June 2022 for Diesel and Paraffin, the Malawi Kwacha has remained relatively stable trading at K1,036.25 against the United States Dollar,” reads MERA’s statement in part.
Following the reduction petrol will now be selling at K 1,746.00 from K1,946.00.
Prices of diesel and paraffin remain constant. MERA has since urged all operators to sell petroleum products at prices not exceeding the recomended maximum pump prices.