“Since the determination of the ruling pump prices in March 2021, the landed costs of Petrol, Diesel and Paraffin have increased by 20.44%, 12.03% and 12.23% respectively.
“The landed costs of Jet A1 (aviation fuel) have reduced by an average of 1.38% when compared to the landed costs noted in July 2021 when the Jet-A-1 prices were last reviewed,” says a statement from the Authority in part.
MERA explained that the key factors that affect the landed costs of petroleum products are the prices of refined petroleum products on the international market and the exchange rate of the Malawi Kwacha against major currencies.
“Under the Automatic Pricing Mechanism, which was adopted in 2012, prices are adjusted when the change in the landed cost is beyond the ±5% trigger band.”
The Authority has since said the “outcomes of the energy price reviews will be communicated in due course.”
MERA is mandated to regulate the energy sector in Malawi in a fair. The Authority is also, responsible for determining prices of energy sales and services.