The Minibus Association of Malawi (MOAM) says it will consult minibus operators on the possibility of reviewing minibus fares downwards.
The development follows a move by the Malawi Energy Regulatory Authority-MERA which has resolved that the pump prices and wholesale prices of petrol, diesel and paraffin be revised downwards effective Friday, 8th May.
MOAM Acting Chairperson Felix Mboonekera welcomed the development amid deteriorating economic performance in the country.
“We have welcomed the decision from the government overwhelmingly because it has come timely as our economy is not good so is our business,” reacted Mboonekera.
Mboonekera says the Association will engage the minibus operators in the country to consider emulating the trend on their commuters.
“Owners and minibus operators are the ones responsible for reduction of minibus fares and we only engage the operators to reduce the prices immediately,” said Mboonekera.
In the revised tariffs, petrol is fairing at K690.50, diesel K664.80, while paraffin is selling at K441.70
According MERA, the downwards revision has been considered in accordance with prices on the international market and exchange rate movements on the landed cost of petroleum products into the country and as a result of a plunge of oil prices on the international market.