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As the country continues to experience the pinch in economy following the nose diving of the kwacha against major foreign currencies, Malawi Energy Regulatory Authority (MERA) has hiked fuel pump prices.
According to the statement made available to FaceofMalawi, the increase is with effective from today.
Petrol is now selling at K743.30per litre from K711.90per litre representing4.41 % increase while Diesel is now selling at K722.80 per litre from K671. 30 per litre representing 7.67 % rise.
Paraffin is now selling at K580.40 from K526.30 per litre representing 10.28% hike.
MERA has attributed the hike to the recent trends in the world petroleum products prices and other macroeconomic fundamentals, such as the exchange rate of the kwacha against the dollar.
