LILONGWE-(MaraviPost)-NOCMA Acting Chief Executive Officer Hellen Buluma told the news conference on Friday, June 24, 2022 that fuel prices in Malawi still cheaper than the current prices arguing that it was supposed to of MK3,500 per litre.

NOCMA Acting Chief Executive Officer Hellen Buluma: Malawi Fuel is still cheaper

She was reacting to general public queries on recent prices fuel increases raised by 34 percent as as follows effective June 23, 2022:

Petrol: MK1 999 from 1380 (44.92%)
Diesel: MK1920 from K1470 (30.61%)
Paraffin: MK1236 from K956 ((29.29%)
LPG: MK2 956 from MK2500

Buluma disclosed that says the company has lost MK68 billion in three years, in covering for the fuel cost difference.

She added that fuel prices on the international market keep increasing on daily basis which making the company to incur huge loses in business.

According to Buluma, NOCMA has been filling the cost difference for Malawians to get the fuel at a cheaper price.

She says, the recent increase in fuel prices is a relief to NOCMA as part of the price difference will be filled.

She has however said the increase is not enough to match the ever-growing prices on the international market.

In normal circumstances, Buluma says Petrol was suppose to be selling at MK3,500 per litre.

Giving the fuel prices outlook for next three months, Buluma said fuel prices will continue to go up on the global market even if the Russia Ukraine war comes to an end.

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