The Malawi Government through the Malawi Energy Regulatory Authority ((MERA) has reduced fuel prices from Friday, May 8, 2020.
MERA Board Chairperson Rev. Dr. Joseph Bvumbwe and Chief Executive Officer Dr. Collins confirmed the development through a press statement issued on Wednesday.
According to the statement, Petrol will now be at K690.50 from K780.00 per litre while diesel at K664.80 from K765.00 and paraffin at K441.70 from K625.00.
“It was noted that the landed costs of petrol, diesel and paraffin decreased by 37.50%, 19.89% and 41.49%, respectively and that according to the Automatic Pricing Mechanism (APM) all the three products qualified for a price adjustment,” reads the statement.
This is the second time for MERA to reduced fuel price after Malawi President Professor Peter Mutharika directive to reduce the fuel pump price in April as the measure of fighting Covid-19.