A statement released by Malawi Energy Regulatory Authority (Mera) has shown that fuel prices have remained the same since November 2019.

According to Mera Chief Executive Officer, Collins Magalasi, and Chairperson, Joseph Bvumbwe, stability of the Kwacha against the dollar coupled with insignificant changes on the commodities landing costs. Being that the local currency’s stability is a factor to the fuel prices’ consistency, Malawi should expect better prices since the Reserve Bank of Malawi (RBM) has confidence that the local currency will remain stable against other foreign currencies in 2020.

The statement by Mera outlines that the landed cost of petrol and paraffin increased by 0.92% and 4.86%, respectively while the landed cost of diesel decreased by 0.19%. Therefore, in line with the Automatic Pricing Mechanism(APM, the Mera Board resolved to maintain the retail prices of petrol, diesel and paraffin.