BLANTYRE-(MaraviPost)—The Malawi Energy Regulatory Authority (MERA) has raised the prices of fuel on the Malawian market as globally prices of crude oil have gone up.
From yesterday, 10th June, 2016, Malawians have started digging deeper into their pockets just to access fuel.
According to Mera, Petrol has risen from K743.30 to K788.30 on retail; Diesel has gone up from K722.80 to K766.90 while Paraffin will be selling at K609.80.
On wholesale price, Petrol will now be sold at K722.450, Diesel at K701.05 while paraffin will be purchased at K543.95 per litre.
MERA said the combined effect of the movement of import prices and the kwacha exchange rate against the dollar had increased the cost of petrol and diesel.
Chief Executive Officer of MERA, Raphael Kamoto, said: “This follows assessment of the impact in the movement in the international oil prices exchange rate of the Kwacha to the US dollar and other Macro-economic fundamentals on the landed costs of the three products.”
Meanwhile, Malawians have expressed shock over the hike in fuel prices arguing that it will raise the cost of living.
“The problem now is that prices of different commodities are to go up and this will mean that we have to dig deep in our pockets. We should expect miserable life ahead” said Ndirande resident Enock Kamuyambeni.
Efforts to get views from the executive director of the Consumers Association of Malawi (CAMA) John Kapito proved futile as he could not pick his phone when contacted.
The last time Mera hiked the fuel prices was in March this year.