![[Malawi] Energy Regulatory Authority revises fuel prices upwards causing jitters](Malawi pump.jpg)
[Malawi] Energy Regulatory Authority revises fuel prices upwards causing jitters
The Malawi Energy Regulatory Authority, MERA has revised the price of fuel upwards in a move that has been greeted by criticism by both businesses who cite the already higher fuel charges.
According to a statement released by MERA signed by its Chairman Reverend Dr. Joseph Bvumbwe, the fuel price hike comes after considerations in recent trends in the world of petroleum products prices and changes in other Macro-Economic fundamentals in the local market and their impact on energy prices.
The statement reveals that Kwacha has depreciated against the United States Dollar (USD) trading at K729.63 per US dollar at the time of review from K715.00 per USD as noted in June 2016.
The newly prices will see petrol selling at $1.15 from $1.09. -Diesel will be sold at $1.13 from $1.06 -Paraffin will be selling at $0.90 from $0.85 per litre.
This represents a 11.02 per cent, 18.66 per cent and 16.37 per cent respectively. The fuel increase will certainly slash the incomes of Malawians.
Malawi economy is on death bed. Already price of food supplies are high. Just recently, Maize was also hiked from $8 to $17 representing a historical increase of 127 per cent.
