Fuel Price Increased, Electricity Tariff maintained
Malawi Energy Regulatory Authority MERA has adjusted upwards pump prices effective today 4th November.
However, MERA has maintained again electricity tariff.
In a statement made available to radio Islam MERA says has increased the fuel prices after considering recent trends in the world petroleum products prices and changes in other macroeconomic fundamentals in the local market and their impact on energy prices.
Signed by board chairperson of MERA Dr Joseph Bvumbwe the statement says the average FOB price of fuel increased in the month of October as compared to May.
“The increment has been done after also noting that since the last review of petroleum products in June Malawi kwacha has depreciated against the Dollar,” reads the statement.
According to Automatic Fuel Pricing the combined movement of FOB prices and exchange rate qualify for an upward price revision since the changes are beyond a 5 percent limit.
“Petrol has been increased from 788.30 to 824.70, Diesel 766.90 to 815.80 and paraffin 690.80 to 648.70,” MERA says.
However, MERA has maintained ESCOM’s electricity tariff after noting that Automatic tariff adjustment forum is within 5 percent trigger limit.
In October, MERA maintained fuel prices and electricity tariff.