Gas prices down

Malawians have been assured that prices of gas will not be hiked despite the hike in fuel pump price.

Malawi Energy Regulatory Authority (MERA) Chief Executive Officer Collins Magalasi told YFM that despite the price hike of liquid fuel and gas at international market, MERA has reduced prices of gas by 2.58 percent in order to lessen the cost burden on consumers.

On July 17, 2018, MERA raised fuel pump prices by an average of 8% but prices of gas have been reduced from K2, 227.34 to K2, 189.82 per kilogram.

“There is a reduction of 2.58 percent in price of gas currently, suffice to say that price of these commodities are very high at the international level,” he said.

Magalasi further said the slight reduction in prices of gas is as a result of the price stabilization fund which MERA has used to cushion the particular forgone increase of the commodity at the international market.

“People will realize that MERA has used 50 percent of the price stabilization fund to cushion the cost that people were paying before,” Magalasi said.

The reduction in gas is one way of encouraging people to use gas for cooking plus other energy driven activities while reducing pressure on electricity and environment.

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