There is a strong speculation that fuel prices will rise prior to the meeting of a special committee from Ministry of Finance, Reserve Bank of Malawi (RBM) Malawi Energy Regulatory Authority (MERA) which converges every Tuesday of the first week of every month to determine the prices of fuel.
According to sources gathered by FaceofMalawi from Malawi24, the new prices are to come in for the current ones which see Petrol selling at MK796.20 per litre; diesel is at K805.50 per litre and paraffin is selling at K719.30 per litre and are scheduled to be announced in the 48 hours.
The looming hike comes in as there have been rather high prices of petroleum product prices and generally an increase in cost of living.
`Besides that, recently the Malawi Kwacha just fluctuated against the US Dollar (K515) using the It also considers and reduced importation costs, using a system called “automatic fuel adjustment mechanism”.
Some of the price hikes that have been making headlines are those of the passports as well as tuition fees for the University of Malawi (UNIMA).