Mera maintains fuel prices
For the 11th month in a row, the Malawi Energy Regulatory Authority (Mera) has maintained the pump prices for petrol, diesel and paraffin at K824.70, K815.80 and K648.70, respectively.
This is despite a rise in average Free on Board FOB) prices in September compared to the averages obtained in October, 2016.
Last month, FOB prices of petrol increased by 12.41 percent, diesel by 11.65 percent and paraffin by 19.28 percent.
In a statement issued on Monday and signed by its Board Chairperson, Reverend Joseph Bvumbwe, Mera said the landed costs of petrol, diesel and paraffin also increased by 10.95 percent, 14.52 percent and 15.52 percent respectively.
Even though the change in the landed costs qualified the three commodities for a price increase, Mera resolved to maintain the prices using the Price Stabilisation Fund (PSF).
Globally, oil prices have remained relatively stable in the recent past.
Malawi last saw an increase in fuel prices in November 2016 when the prices went up by an average 4.62 percent.
Malawi is using the Automatic Fuel Pricing Mechanism, where fuel prices are determined by market forces.