The Malawi Energy Regulatory Authority (MERA) announced new fuel prices yesterday, effective immediately, in response to the ongoing conflict at the Strait of Hormuz, which has disrupted global oil supplies.
The new prices are as follows:
– Petrol: K6,672 per litre
– Diesel: K6,687 per litre
– Paraffin: K5,824 per litre
– Jet A1 (KIA): K5,439 per litre
– Jet A1 (BIA): K5,423 per litre
Speaking at a press briefing today, MERA CEO Dad Chinthambi said the price changes are attributed to rising import costs, market distortions, and currency fluctuations. “The current situation at the Strait of Hormuz has led to a surge in global fuel prices, impacting Malawi’s import costs,” he explained.
Chinthambi emphasized that the current review is temporary and subject to further adjustments. “Once the situation stabilizes, MERA will use the Automatic Pricing Mechanism to review prices and make necessary adjustments accordingly,” he said.
MERA assures stakeholders that measures are in place to ensure sustained fuel supply.