A statement by Malawi Energy Regulatory Authority (MERA) has announced that the Authority resolved that pump prices and wholesale prices of petrol, diesel and paraffin be revised downwards.

Figures on the statement, signed by Mera CEO Collins Magalasi, shows that Petrol is now at K780.00, Diesel at 765.00 and Paraffin at K625.00 per Litre. As for wholesale prices, Petrol is at K704,560.00 780.00, Diesel at K689,560.00 and Paraffin at K549,560.00 per 1000 Litres.

The downward review has been attributed to an assessment of the impact of FOB prices on the international market and exchange rate movements on the landed cost of petroleum products into the country. The review has also come amidst a public transport hike, which saw the doubling of normal rates, due to the government’s directive to limit minibus passengers to two per seat. Hopefully the Minibus Owners Association of Malawi will also follow suit and lower the fares.