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Tag: Malawi Energy Regulatory Authority

MERA Reduces Price Of Petrol

MERA Reduces Price Of Petrol

National
Malawi Energy Regulatory Authority(MERA) has reduced the pump price of petrol by 10.28 percent. MERA says the recent trends in theworld petroleum products prices and their impact on energy prices has led to the decision to cut fuel price. The energy regulator also attributes the reduction to the recent stability of 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 relativelystable trading at K1,036.25 against the United States Dollar," reads the statement in part. The new pump prices are as below: Petrol will be selling at K 1,746.00 from K1,946.00 representing 10.28 percent. The prices of diesel and paraffin remain constant.
Govt Fixing Fuel, Energy Challenges

Govt Fixing Fuel, Energy Challenges

Stories
President Dr Lazarus Chakwera has assured Malawians that the problem of fuel scarcity will be solved shortly. He said this during the Malawi Investment Summit in Lilongwe. Dr Chakwera said on Tuesday evening he had meetings with players in the fuel supply sector and they have made headway on the issue. He said as a matter of short-term solution, the government has secured $28 million from local commercial banks for the importation of fuel and is in a process of securing a credit facility of $50 million. The Malawi leader added that he ordered the Reserve Bank of Malawi to prioritise fuel importation when giving out forex while the country is working on a long-term strategy for foreign exchange availability. On electricity he said the current problems emanate from the destru...
MERA Maintain Fuel Prices

MERA Maintain Fuel Prices

Stories
Stakeholders in the economy are divided on the decision by Malawi Energy Regulatory Authority (Mera) to maintain fuel prices despite its assessment pointing to an increase in diesel prices. A press statement issued by the authority says it maintained fuel prices but reduced the price of gas by 3.03 per cent from K2,640 to K2,560 per kilogramme. It says the combined effects of the movement of the Free on Board prices, the exchange rate of kwacha against dollar and changes in local factors reflected, on the landed cost, a 0.58 per cent increase in petrol price, seven per cent increase on diesel price and 1.03 per cent for kerosene. According to Automatic Fuel Price Mechanism, diesel qualifies for an increase in retail price. But the authority’s Board Chairperson Reckford Kampan...