Government through Malawi Energy Regulatory Authority(MERA) has reduced the pump price of petrol by 10.28 percent.
MERA says the recent trends in the world petroleum products prices and their impact on energy prices has led to the decision to cut fuel price.
The energy regulator also attributes the reduction to the recent stability of Malawi Kwacha.
“Since the last In Bond Landed Cost (IBLC) review in July 2022 for petrol and June 2022 for Diesel and Paraffin, the Malawi Kwacha has remained relatively stable trading at K1,036.25 against the United States Dollar,” reads the statement in part.
The new pump prices are as below:
Petrol will be selling at K 1,746.00 from K1,946.00 representing 10.28 percent.
The prices of diesel and paraffin remain constant.
MERA urges all operators to sell petroleum products at prices not exceeding the above maximum pump prices.