Petrol and Diesel prices go up by over 30 and 32 percent respectively

Malawi has adjusted the petrol and diesel prices upwards after recently adopting a liberalised foreign exchange regime that saw the kwacha devalue by more that 48 percent.

Petrol price was adjusted from K380.00 to K490.00 per litre (30 percent increase) and diesel increased from K360.00 to K475.00 representing a 32 percent increase.

The fuel increase is less than what was expected considering the percentage of the devaluation and as such motorists will be slightly relieved.

Meanwhile, government has announced that it is going to stop regulating fuel prices and this will mean prices will be determined by market forces.