The Malawi Energy Ragulatory Authority MERA has Today 16th December 2020 announced the adjustment of fuel prices.
Speaking to the journalists in Lilongwe , Public Relations Manager for Mera Fitna Khonje said the adjustment follows the depreciation of Malawi Kwacha on the market against the US Dollar.
The new prices are as follows
Petrol has increased with 20.87% and will be selling at K834.60
Desiel has increased with 24.31% and will be selling at K826.40
Parrafin has increased with 38.83% and will be selling at K613.20
The Public Relations Manager also added that the prices of Jet fuel has been adjusted as follows:
JA1 for Kamuzu International Airport has increased with 11.9% and is at K571.68
Chileka Airport has increased with k508.31
Liquid petroleum Gas has increased to 42% and is selling at K1,880.00
Fuel Price Trends: Dec 2016 – Dec 2020
There will be a price adjustment on fuel tonight at midnight. Petrol will be K834.60 and Diesel will be K826.40.
Malawi oprates an automatic price adjustment mechanism system that among other things, considers international prices and exchange rate movements.
HISTORIC PRICES:
December 2016:
Petrol: K824.70
Diesel: K815.80
December 2017:
Petrol: K824.70
Diesel: K815.80
December 2018:
Petrol: 923.50
Diesel: K949.60
December 2019:
Petrol: K930.00
Diesel: K924.00
December 2020:
Petrol: K834.60
Diesel: K826.40
Henry Kachaje a re knowned economists comments as quotted “As you may see, the prices of December 2020 are actually lower than the prices we had in December 2018 and December 2019.
The lower prices we have been enjoying since April 2020 (Petrol: K690.50 and Diesel: K664.80) were largely due to depressed world prices due to the impact of Covid-19 where most cars, planes, ships were grounded and factories closed in the developed world due to lockdowns.”
Otherwise, prices in March 2020 prior to covid-19 were: Petrol: K930 and Diesel: K887.
Just thought of sharing these details in case some might want to mislead us with half truths. He added
