By: Eutycus Yamikani.
Malawi Energy Regulatory Authority (Mera) has raised prices for petrol, diesel and paraffin effective 10th June 2016 in reaction to changes in the value of the Malawi kwacha exchange rate to the dollar.
The changes have been made following the board meeting that MERA had on Tuesday, some of the changes are as follows.
Petrol has gone up from K743.30 per litre to k788.30 per litre.
Diesel, on the other hand, has gone up from K722 per litre to K766.90 per litre while paraffin is now selling at K609.80 from K580.40 per litre.
MERA is said to have arrived at this decision after it observed that the Malawi kwacha was trading at MK715 to the dollar from MK750, and under the automatic pricing mechanism (APM) petroleum price changes were significant.
Nevertheless electricity tariffs have been maintained at the current average of K57.72 per unit.
Meanwhile these changes in energy pricing comes also after Illovo sugar limited released the hike to its products reflecting that Malawians should expect more hardships when it comes to spending their kwacha’s.