Malawi Energy Regulatory Authority (Mera) has increased prices of petroleum products, a development which the Consumer Association of Malawi (Cama) says it signals that times are tough ahead.
Announcing the changes last night in Lilongwe, Consumer Affairs and Public Relations Manager Fitina Khonje said Petrol will now fetch K834.60 up from K690. 50, Diesel is now at K826.80 from K664.80 while Palafin has moved from K441.70 to K613.20.
Khonje said the changes have been effected due to rise of landing cost and the depreciation of Malawi Kwacha.
She also added that the Price Stabilisation Fund was not enough to offset the pressure which has been there since May this year.
Reacting to the development, Cama executive director John Kapito has blasted MERA for failing to take a gradual price increase in the last months.
Kapito said Malawians should brace for hard times ahead as the Price adjustment is likely to trigger hike in prices of other communities.