Malawi Energy Regulatory Authority (Mera) has maintained fuel pump prices at current levels which means that petrol remains at K824.70 per litre, diesel at K815.80 per litre and paraffin at K648.70 per litre.
In a statement issued on Friday, Mera board chairperson Reverend Joseph Bvumbwe said the average free on board (FOB) prices of petrol, diesel and paraffin increased in March 2018 when compared to the averages obtained in the month of October 2016 which is used as the basis for determining the ruling pump prices.
Reads the statement in part: “The FOB prices of petrol, diesel and paraffin rose by 23.59 percent, 24.14 percent and 29.72 percent respectively in the month of March 2018 when compared to October 2016 FOB prices which form the basis of the ruling pump prices..”
In the statement, Mera said it assessed the combined effect of the movement of the FOB prices and exchange rate of the Malawi kwacha to the US dollar, changes in supply contracts premiums as well as changes in local factors that determine the maximum pump prices and noted that the landed costs of petrol, diesel and paraffin increased by 6.29 percent, 12.76 percent and 15.45 percent, respectively.
According to Mera, the changes in the landed costs qualified all the three petroleum products for an upward pump price adjustment since the changes in the landed costs were beyond the plus or minus five percent trigger limit.
The regulator has also maintained electricity tariffs as implemented in February 2018 and Jet A-1 fuel prices at K737.67 at Kamuzu International Airport (KIA) and K687.08 at Chileka International Airport.