LILONGWE-(MaraviPost)-The Malawi Energy Regularly Authority (Mera) on Friday night increased fuel prices effective Saturday October 6 2018.
The development is likely to push up cost of transport, cost of living, goods and services, further hurting poor families.
The authority announced in a statement that it had increased the pump price of petrol by 5.01 percent and diesel by 5.02 percent to reflect the rise in fuel prices on the international
According to the new price structure, petrol from Saturday, October 6, is now selling atMK932.50 from K888.00 while diesel is to sell at K935.60 from K890.90 and paraffin will be sold at MK755.30 from MK719.30.
Mera chief executive officer Collins Magalasi said the increase will ensure there is enough resources to continue to import.
But motorists and public transport users are facing major economic headaches.
The knock-on effect will add to the pain with bus and taxi fares possibly going up too along with food prices.
The fuel price hike come as the International Monetary Fund (IMF) mission to Malawi has said the country’s general economic performance is on track .
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