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Chakwera’s doomed Canaan wrecks as pump prices to go up

BLANTYRE-(MaraviPost)-President Lazarus Chakwera’s Tonse administration continues struggle to meet peoples expectations amid social-economic ills.

This is so as Malawi Energy Regulatory Authority (MERA) on Tuesday, September 14, 2021 disclosed that is contemplating on revising pump prices for fuel following changes in prices of refined petroleum products on the international market and the exchange rate of the Malawi Kwacha against major currencies.

In a statement statement made available to The Maravi Post, the authority says the MERA Board will consider the changes in the landed costs and other economic factors to establish appropriate prices of the petroleum products.

“The outcomes of the energy price reviews will be communicated in due course,” it reads.

Under the Automatic Pricing Mechanism, which was adopted in 2012, prices are adjusted when the change in the landed cost is beyond the negative or positive five percent trigger band.

Mera says since the determination of the ruling pump prices in March 2021, the landed costs of petrol, diesel and paraffin have increased by 20.44 percent, 12.03 percent and 12.23 percent respectively. While the landed costs of Jet A1 (aviation fuel) have reduced by an average of 1.38 percent.

Since Chakwera’s assumed power since July 2021, Tonse administration has failed to contain economic ills including skyrocketing prices of goods and services, high inflation and among others.

Maravi Post Reporter
Maravi Post Reporterhttps://www.maravipost.com/
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