The Malawi Energy Regulatory Authority (Mera) has announced a sharp increase in fuel prices, effective today.
According to Mera, the pump prices of petrol has risen from K2, 530 to K3, 499 per litre, representing a 38.3% increase, while diesel has gone up from K2, 734 to K3, 500 per litre, a 28% increase.
“The Malawi Kwacha remained stable at K1, 751 against the US Dollar, but importers were being quoted at an average exchange rate of K2, 530/USD, which resulted in higher landed costs,” Mera said it its statement.
The regulator added that the price adjustment was necessary to ensure sustained fuel supply and cost-reflective pricing across the country.
