The Malawi Energy Regulatory Authority (MERA) has acted on the long over due fuel price adjustment by hiking the pump prices for the commodity.
According to a statement by MERA which released Saturday night, Petrol pump price has been increased by 20 per cent from K1,150 to K1,380 per litre, diesel hike from K1,120 per litre to K1,470 per litre representing 31%.
Meanwhile Jet A fuel which was sold at 898.79 per litre at Kamuzu International Airport will now sell at K1144.69 representing a 27.36 hike while at Chileka Airport the price has been hiked from K847.87 to K1096.81 per litre, representing a 29.36 percent increase
The statement whixh signed by MERA board chair Reckford Kampanje states that the fuel price adjustments have come following global trends in fuel prices.
"Oil prices continue to skyrocket due to fears of security of supply following the invasion of Ukraine by Russia. Economies have resorted to stock building in fear of supply disruption from the war, Russia being one of the largest oil producers," reads the statement.
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