As the kwacha continues to depreciate against the United States dollar pilling pressure on Malawians as price of goods keep on rising on the market almost daily, Malawi Energy Regulatory Authority (MERA) has reduced the price of diesel and paraffin by eight percent.

Although this is the case, MERA has maintained the price of petrol at MK711.00.

The statement says diesel now will be selling at MK671.30 from MK732.70 per littre while paraffin will now be selling at MK526.30 from MK573.20 per littre.

According to the statement released to the press earlier this week signed by Dingiswayo Jere, board chair said the average free on board (FoB) prices of petrol, diesel and paraffin dropped drastically in January 2016 compared to the month of November.

The statement says FoB prices of petrol, diesel and paraffin dropped by 14.69 percent, 38.9 percent and 35.63 percent respectively in January 2016 attributed to a supply overhang of oil on global market.

Meanwhile the decrease in price of diesel and paraffin is yet be seen if it will have any impact on price of commodities on the market.