Fuel prices to go up

The Malawi Energy Regulatory Authority (MERA) has said it is contemplating on revising pump prices for fuel following changes in prices of refined petroleum products on the international market and the exchange rate of the Malawi Kwacha against major currencies.

In a statement released today, the authority says the MERA Board will consider the changes in the landed costs and other economic factors to establish appropriate prices of the petroleum products.

“The outcomes of the energy price reviews will be communicated in due course,” it reads.

Under the Automatic Pricing Mechanism, which was adopted in 2012, prices are adjusted when the change in the landed cost is beyond the negative or positive five percent trigger band.

Mera says since the determination of the ruling pump prices in March 2021, the landed costs of petrol, diesel and paraffin have increased by 20.44 percent, 12.03 percent and 12.23 percent respectively. While the landed costs of Jet A1 (aviation fuel) have reduced by an average of 1.38 percent.

Source:NPL