BLANTYRE-(MaraviPost)-The Malawi Energy Regulatory Authority (MERA) this week maintained fuel pump prices and electricity tariffs.
This means that motorists and industrial users, will continue conferring MK824.70 per litre for petrol, MK815.80 per litre for diesel, and paraffin at MK648.70 per litre.
The electricity tariffs on the other hand remains, at the average price of MK57.72 per kilowatt to enable the Electricity Supply Corporation of Malawi (Escom) partly bridge the revenue gap created by the delayed tariff implementation.
In a statement issued and signed by MERA Board Chairpeson, the Reverend Joseph Bvumbwe, available to The Maravi Post the energy regulatory body disclosed that free on board (FoB) prices of petrol, diesel and paraffin were raised by 7.24 percent, 3.55 percent and 3.26 percent respectively, in the month of September 2017.
MERA said that the average FoB prices of all fuels increased in August when compared to the averages obtained in October last year, which are used in determining the ruling pump prices.
The regulator however, said assessing the combined effect of the movement of the FoB prices and the Malawi kwacha exchange rate to the dollar, plus changes in local factors, determine the maximum pump prices.
MERA noted that the landed cost of petrol, diesel, and paraffin increased by 7.80 percent, 9.26 percent, and 9.36 percent, respectively
Under the automatic price adjustment system, changes in the value of variables in excess of five percent, influence an upward or downward adjustment in prices.
In the circumstances, MERA said, the changes in the landed costs qualified all the three petroleum products for an upward pump price review.