The newly constituted Malawi Energy Regulatory Authority (MERA) board will this week announce a fuel hike of more than 20 percent. The hike, it is alleged, was delayed because MERA did not have a board.
It’s understood that petrol prices will be hiked to about 1500 Malawi Kwacha from MWK1,150.00 per litre.
Prices of Diesel which is at MWK1,120.00/litre and Paraffin which is at MWK833.20 per litre are also expected to go up.
The last time MERA adjusted fuel prices was in October last year. In January, the authority hinted on a fuel price rise but the hike was not implemented.
Earlier this month, MERA said increase in transportation cost for fuel and depreciation of the Kwacha meant that the pump prices qualified for an increase.
The authority noted that since the last adjustment for fuel prices in October, the landed costs of Petrol, Diesel and Paraffin had increased by 16.16%, 24.67%, and 24.71% respectively.
Under the Automatic Fuel Pricing Mechanism, pump prices qualify for an adjustment when the landed costs of petroleum products move beyond the ± 5% trigger limit.
MERA said earlier this month that once a new MERA board is appointed by President Lazarus Chakwera, it would look into the fuel prices.
“The MERA Board, when instituted, will consider the changes in the landed costs and other economic factors to determine appropriate prices of the petroleum products,” the authority said in its statement.
Chakwera this week appointed a new MERA board which is chaired by Reckford Kampanje while Innocencia Chirombo who has been retained is vice chairperson. Members include Lameck Nchembe and Ulemu Kambwiri.
If you thought Malawians are lazy people, I bet you a Dinosaur, think twice and you will know, check in Read more
The recent arrest in Malawi of three opposition politicians accused of planning to unseat President Peter Mutharika is dissent from Read more
This toilet constructed by Rumphi district council is worth 15.9 million kwacha according to the district council. This figure has Read more
Attorney General Thabo Chakaka Nyirenda has questioned why the Speaker of Parliament has been dragged in a political feud. This Read more
Seven people were arrested last werk for stealing computer hard drives at Ministry of lands to conceal evidence of illegal Read more
On 14th April, 2021, the case in the republic versus Zameer Karim and others was inCourt at the Lilongwe High Read more
Members of the Asian community in Malawi have been living in fear in the last three months after the Shayona Read more
High Court Judge Anabel Mtalimanja has dismissed the application by controversial businessman Zameer Karim, who was seeking a review of Read more
By Gerald Chavez Kampanikiza and Deus Chikalaza Jealousy is indeed a poor Medium to secure love, but it is a Read more
Malawi Anti-Corruption Bureau (ACB) Director General Martha Chizuma has alleged in a leaked audio alleged to be of hers that Read more
