• September 26, 2022 6:09 pm

Chakwera reduces price of Petrol by K200

Sep 15, 2022

By Cedrick Nkungula

In his quest to ensure a reduction in the cost of living among Malawians, President Dr. Lazarus McCarthy Chakwera has slashed down the price of Petrol by K200 effective Thursday, 15th September, 2022.

The development means Petrol will now be selling at K 1,746.00 from K1,946.00 representing 10.28 percent.

The prices of diesel and paraffin remain constant.

A statement from Malawi Energy Regulatory Authority (MERA) attributed the adjustment to the recent stability of Malawi Kwacha.

MERA explained that the recent trends in the world petroleum products prices and their impact on energy prices is another factor that has led to the decision to cut fuel price.

“Since the last In Bond Landed Cost (IBLC) review in July 2022 for petrol and June 2022 for Diesel and Paraffin, the Malawi Kwacha has remained relatively stable trading at K1,036.25 against the United States Dollar,” reads part of the statement signed by Board Chairperson Reckford Kampanje.

MERA has urged all operators to sell petroleum products at prices not exceeding the approved maximum pump prices.

Writing on his Facebook page, Minister of Finance Sosten Gwengwe says government is working tirelessly to have Petrol selling as low as K900 by December.

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