Minister of Finance Sosten Gwengwe has planted the seed of hope in Malawians as he has said that fuel prices will be slashed further by the end of this year.

Gwengwe said this soon after the Malawi Energy Regulatory Authority (MERA) announced that prices of fuel have been reduced.

According to MERA petro will now be selling at K1, 746.00 from K1, 946.00 whereas Diesel and Kerosene maintains their pump prices of K1, 920 and K1, 261.00 respectively.

Writing on his official Facebook page, Gwengwe said they are hoping to place petrol’s pumping price at K900 by December.

“Fuel prices slashed! Good news! Prices of all goods depend on fuel prices. We are working tirelessly to have petrol selling at a pump price of as low as k900 by December this year,” said Gwengwe.