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Mera maintains fuel prices

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The Malawi Energy Regulatory Authority (Mera) has for the sixth month in a row maintained fuel pump prices.

The development means that petrol, diesel and paraffin will still be sold at K824.70, K815.80 and K848.70 per litre in that order.

In a statement signed by its board chairperson, Bishop Joseph Bvumbwe, Mera said the decision was arrived at after considering domestic economic trends and international fuel prices.

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“The Malawi Energy Regulatory Authority considered recent trends in the world petroleum products prices and changes in other macroeconomic fundamentals and their impact on energy prices,” reads the statement in part.

It said the average free on board prices of petrol, diesel and paraffin registered increases compared to the averages obtained in the month of October 2016 used in determining the ruling pump prices.

“The free on board price of petrol, diesel and paraffin respectively rose by 8.53%, 5.93% and 4.97% in the month of April 2017 compared to the trend in October 2016,” it reads.

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The Mera board said it also took into account the movement of currency exchange rates.

Since the last review of petroleum products in November 2016, the Malawi kwacha has depreciated by 0.06% from K733.50 per dollar.

In 2012, the government adopted the automatic fuel pricing mechanism where fuel prices are determined by market trends.

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