MERA slashes oil prices amid Covid-19 pandemic

Written by Angella Semu

LILONGWE-(MaraviPost)—Malawi Energy Regulatory Authority (MERA) has reduced oils prices following the impact of free on board (FOB) prices on the international market and exchange rates in the country.

In a statement signed by MERA executive director, Dr Collins Magalasi it has been disclosed that the authority made the price adjustments due to the negative impact of Covid-19 that has affected many sectors of the economy including the Liquid Fuels and Gas Industry.

The Authority has announced that it has granted a temporary increase of the retail margin by K3.00/litre which is subject to monthly reviews starting from 8th May, 2020 to allow retailers to recover the losses sustained as a result of downward pump price revisions.

The revised wholesale price for petrol is K612, 060 per 1000 litres, pump prices at K690.50 per litre and trading margin of K7844, for diesel wholesale price will be K586,360.00 per 1000 litres, retail pump price at K664.80 and trading margin of K7,844.00 and Paraffin going at K363,260.00 wholesale price per 1000 litres, K441.70 maximum retail pump price and K7,844.00 retail margin

Maneno Chimulala

I am a journalist, educator, and activist with passion for telling stories about social justice, sports and political issues. I graduated from Mzuzu University. I started my career at the Maravi Post online publication in 2012 as an intern while in college. Upon graduating from Mzuzu University I was offered a job as Sports Reporter because of my background as a goalkeeper and rose to the position of sub editor. I also had a short stint with Nyasatimes, Malawi Punch and Malawi Digest. Over the past seven years, I have worked intimately with rural organizations and communities in Malawi on human rights, girl child education and grassroots development projects. With an academic background in education, I also volunteer as male champion for girls’ education under Girls Empowerment Networks (GENET) in Malawi’s South West Education Division (SWED).