President Lazarus Chakwera’s Tonse Alliance administration through Malawi Energy Regulatory Authority (Mera) has announced an increase in fuel prices effective midnight.
According to a statement signed by recently appointed Mera board chairperson Reckford Kampanje, petrol price has been raised by 20 percent, from K1,150 to K1,380 per litre.
The price of diesel has gone up by 31.25 percent, from K1,120 to K1,470 per litre while paraffin has been adjusted by 14.74 percent, from K833.20 to K956 per litre.
“[Mera] considered recent trends in the world petroleum products prices and changes in other macroeconomic fundamentals in the local market and their impact on energy prices…
“…Oil prices continue to skyrocket due to fears of security of supply following the invasion of Ukraine by Russia,” the statement reads in part.
