Friday, October 7News That Matters

Fuel Hike a Blow To Malawians – CDEDI

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Human rights advocate Centre for Democracy and Economic Development Initiatives, has said the recent fuel hike will further negatively affect people’s livelihood in the country.

In a statement signed by Sylvester Namiwa, Executive Director for CDEDI, the fuel increase has come at a time Malawians are already feeling the pinch of the 25 percent devaluation of the Malawi Kwacha.

The rights advocate has since described the hike as insensitive.

“CDEDI’s immediate reaction is that the fuel price hike is unacceptable, insensitive,” reads part of the statement.

On Wednesday, night, the country’s energy regulator- Mera announced of an increase in fuel prices effective Thursday, June 23rd, 2022.

According to Henry Kachaje, Chief Executive Officer for Mera, Petrol prices have been increased from K1380 to K1,999 representing 44.92%.

Diesel Prices have been moved up from K1470 to K1920 representing 30.61% While paraffin from K956 to K1236 representing 29.29%.

The regulator has indicated that the development is due to the devaluation of Kwacha, exchange rate and landing costs of the energy products.

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