16 April 2018

Malawi Energy Regulatory Authority Maintains Fuel Prices

The Malawi Energy Regulatory Authority (Mera) has maintained the pump prices for petrol, diesel and Paraffin as Malawi Kwacha remains stable against major currencies.

Local fuel prices were last reviewed in July 2017.

In a statement Mera issued on Monday 16th April, 2018, Mera indicates that it has maintained retail fuel prices at Petrol K824.70, Diesel K815.80 and Paraffin K648.70.

The statement signed by Board Chairperson, Reverend Joseph Bvumbwe indicates that the authority decided to maintain the prices despite a rise in average Free on Board FOB) prices in March,2018 when compared to the averages obtained in the month of October, 2016 used as the basis for determining the ruling pump prices.

In March, 2018 FOB prices of petrol increased by 23.59 percent, diesel by 24.14 percent and paraffin by 29.72 percent.

Landed costs of petrol, diesel and paraffin also increased by 6.29 percent, 12.76 percent and 15.45 percent respectively.

"The changes in the landed costs qualified all the three petroleum commodities for an upward pump price adjustment since the changes in the landed costs were beyond the ±5% trigger limit.

"Mera resolved to maintain pump prices for all the three products and apply the Price Stabilization Fund (PSF) to cover the increased landed costs of the three petroleum products," reads the statement in part.

Malawi last saw an increase in fuel prices in November 2016 when the prices went up by an average 4.62 percent. The country is using the Automatic Fuel Pricing Mechanism, where fuel prices are determined by market forces


Amajita Dash Junior Flames' Afcon Dreams

Malawi has failed to qualify for Under-20 2019 Africa Cup of Nations (Afcon) final in Niger after they went down 0-2… Read more »

See What Everyone is Watching

Copyright © 2018 Nyasa Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.