Malawi Energy Regulatory Authority (Mera) says it is contemplating on adjusting pump prices in the country.
Speaking to YFM, MERA Public Relations Officer Fitina Khonje said this follows the changes in prices of petroleum products on the international markets and exchange rate of Malawi Kwacha against other currencies.
In a statement, Mera said its Board will consider the changes in the landed costs and other economic factors to establish appropriate prices of the petroleum products.
“The outcomes of the energy price reviews will be communicated in due course,” it reads.
Under the Automatic Pricing Mechanism, which was adopted in 2012, prices are adjusted when the change in the landed cost is beyond the negative or positive five percent trigger band.
Mera said since the determination of the ruling pump prices in March 2021, the landed costs of petrol, diesel and paraffin have increased by 20.44 percent, 12.03 percent and 12.23 percent respectively. While the landed costs of Jet A1 (aviation fuel) have reduced by an average of 1.38 percent.
after all contributing factors including the economic challenges facing the country have been put into consideration.