The Malawi Energy Regulatory Authority (MERA) has hiked fuel pump price effective November 10, 2023.

Malawi Energy Regulatory Authority board chairperson Reckford Kampanje has confirmed of the development in an interview with the press.

According to the statement, petrol will now be selling at K2 530 per litre from K1 746, representing 44.9 percent increase, while diesel is now selling at K2 734 from K1 920 representing 42.4 percent increase.

Paraffin is at K1,910 from K1,261 (up by 51.47%).

Kampanje attributed the rise to the 44 percent devaluation of the local currency and taking into consideration prices on the global market.