Malawi Energy Regulatory Authority (MERA) has announced the slash in fuel pump prices with effect from Thursday, September 4.
MERA disclosed this through a press statement, saying the reduction in fuel pump price in the country is due to stability of the local currency against the US dollar and reduced importation costs.
Petrol is now selling at MK796.20 per litre from MK839.40, while diesel is now at MK805.50 per litre from MK853.40 per litre. Paraffin is still selling at MK719.30 per litre.
In a related development, MERA has also announced a reduction in the cost of aircraft fuel, JET A1, from K719.39 to K708. 64 at Kamuzu International Airport, and K715.21 to K700.28 at Chileka Airport.
The energy authorities have since advised all operators to adhere to the new prices when selling petroleum products.