Mera Sustains Fuel Pump Prices, Using Price Stabilisation Fund
The Malawi Energy Regulatory Authority MERA has maintained the fuel pump prices for Diesel at 664.80 Kwacha, Petrol at 690.50 Kwacha and Liquid Petroleum gas.
This is despite the fluctuation of the Malawi Kwacha and the rise of importation of fuel at the international market and landing costs.
In a statement released Friday, MERA Chief Executive Officer Collins Magalasi and Board Chairperson Joseph Bvumbwe said the Authority has used funds under the Price Stabilization Fund (PSF) to maintain the fuel prices.
In an interview with Zodiak Online Magalasi said, "In an event of the kwacha depreciating and the Automatic Pricing Mechanism allowing for an upward adjustment MERA will have enough resources in the PSF to cushion the burden"
Maintaining of fuel pump prices by the energy regulator has come as good news to motor vehicle operators and companies that highly depend on diesel to drive the country’s economy.
Last modified on Sunday, 07/06/2020