Malawi Energy Regulatory Authority-MERA has adjusted fuel prices upwards effective Saturday, February 9, 2013, a move likely to spur a hike in transport costs and that of other basic commodities in Malawi.
The hike is attributed to a rise in pump price at the global market.
Petro will now be selling at K664 at wholesale with a retail price of K 704 per liter.
Diesel will be trading at K644 per liter at wholesale and K 683 at retail. Wholesale price for paraffin will be K 591 while the new retail price is K 591.
President Joyce Banda’s administration adopted the Automatic Fuel Price Mechanism where pump prices in the country are determined by international market forces. This meant that the Government stop subsidizing the local fuel prices when the go up on the international market.
