Fuel prices reduced

The Malawi Energy Regulatory Authority (Mera) has reduced fuel pump prices on the local market effective January 12, 2019.

Mera chief executive officer Collins Magalasi said the board reached at the decision after assessing the international market, exchange rate movements and the landed cost of petroleum products in the country.

Petro is now selling at K868.00 from K923.50 per litre, diesel is now K874.00 from K949.60 per litre and paraffin is at K710.50 from K781 80 per litre.

MERA also reduced fuel pump prices on December 15, 2018.

In his reaction, the outspoken Consumers Association of Malawi (Cama), John Kapito welcomed the move.

Kapito however appealed to the business community to consider reducing prices of goods and services which were adjusted upwards after the increase in fuel prices in November 2018.

“We have noted in the past that when fuel prices go up, generally most of the traders in Malawi hike up their prices, minibus fares go up but I think we have not seen them adjusting their prices downwards.”

Kapito expressed concern that the benefits of any fuel pump price decrease do not trickle down to the ordinary Malawians.

“Why do they react so quickly when fuel prices go up and they are unwilling to reduce their prices when fuel prices go down,” Kapito wondered.

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