Up goes Fuel, 45% for Petrol

Consumers in Malawi on Friday will wake up to new fuel prices announces by the Malawi Energy Regulatory Authority- effectively piling pressure on inflation as prices of goods and services are expected to continue their steep rise.

new fuel prices from friday up by 44%

Petrol is from Friday selling at K2 530 per litre from K1746, representing 44.90 percent, while Diesel is now selling K2734 from K1920 and Paraffin has been adjusted by 51.4 percent to K1910.00.

Already on Thursday most shop owners had adjusted including fertiliser and seeds for the forthcoming planting season.

President Lazarus Chakwera authorised the adjustments and flew away to Saudi Arabia leaving irate citizens to manage the adjustments on their own.

MERA Board Chairperson Reckford Kampanje in a midnight press release said the global forces had made the adjustment necessary.

The truth is the Malawi Kwacha which has been devalued by 44 percent to US dollar and its effects are starting to be felt across the country.

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