The statement reveals that Kwacha has depreciated against the United States Dollar (USD) trading at K729.63 per USD at the time of review from K715.00 per USD as noted in June 2016.
According to the statement, Petrol will be selling at K824.70 from K788.30; Diesel will be sold at K815.80 from K766.90 while Paraffin will be selling at K648.70 from K609.80.
This represents 11.02%, 18.66% and 16.37% respectively.
The fuel increase comes as the prices of basic commodities like maize are already beyond the reach for ordinary Malawians.
Currently, maize is selling at K12,500 from K5 500 in AMARC depots representing a historical increase of 127%.
Meanwhile, social media is abuzz with mocking comments against the ruling Democratic Progressive Party (DPP).
“No blackout yesterday. Maybe the DPP government under the wise leadership of Peter Mutharika wanted everyone to hear the new fuel prices and the DPP fundraising dinner adverts on MBC,” James Kachoka wrote on facebook.
“As long as APM is on the driver’s seat, be rest assured that nothing will come from this Government. I wonder why some Malawians are so obsessed with this ruthless leader,” commented Rodgers Chirwa.
“This is a punishment for not voting DPP in by elections,” Sam commented.
Charles Sikwese while quoting Professor Patrick Lumumba said: “We elect hyenas expecting them to take care of goats. That’s a problem in Malawi.”
MERA decision to hike fuel prices has left many citizens dump founded considering that just last month, the commodity’s price was adjusted.
