The Malawi Energy Regulatory Authority (MERA) has today announced new prices of fuel.
MERA has said fuel prices will go down effective tomorrow, Jan 11, 2015. MERA said in a statement issued a short while ago that petrol will now be selling at K760.40 from K856.70.
Diesel will now be selling at K785.40 from K865.90 and paraffin will be at K678.80 from K756.10.
According to the energy regulator the price reduction has been necessitated by a fall in global fuel prices as well as appreciation of the kwacha against major foreign currencies.
It comes after analysts applied pressure on MERA in recent weeks to effect the changes owing to the same factors as provided for by the Automatic Fuel Pricing Mechanism which Malawi follows.
The development will render a reduction of goods and services in the country.
