The country’s fuel importers have incurred cumulative losses of up to K1.219 trillion over the past three years as a result of prolonged fuel price suppression, Finance Minister Joseph Mwanamvekha has said.
On Tuesday, the Malawi Energy Regulatory Authority (Mera) announced a sharp upward review of fuel prices under the Automatic Pricing Mechanism (APM), increasing petrol prices by about 42 percent to K4,965 per litre and diesel by roughly 41 percent to K4,945 per litre.
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