The Malawi Energy Regulatory Authority (MERA) has once again hiked prices of fuel in the country effective today piling more pressure on Malawians who are feeling the pinch of the economic downturn at the moment.
MERA confirmed of the development in a statement released on Thursday signed by its Chairman Reverend Dr. Joseph Bvumbwe.
According to the statement, the fuel price hike comes after considerations in recent trends in the world of petroleum products prices and changes in other Macro-Economic fundamentals in the local market and their impact on energy prices.
Petrol will be selling at K824.70 from K788.30 representing a 11.02% increase while Diesel will be sold at K815.80 from K766.90 representing 18.66% increase and Paraffin will be selling at K648.70 from K609.80 representing 16.37% increase.
Bvumbwe said that Kwacha has depreciated against the United States Dollar (USD) trading at K729.63 per USD at the time of review from K715.00 per USD as noted in June 2016.
Meanwhile MERA has maintained the price of Electricity.
