Fuel prices up
PRESS RELEASE
Malawi Energy Regulatory Authority (MERA) considered recent trends in the world petroleum products prices and other macroeconomic fundamentals.
Â
FOB Prices
Â
Since the last pump price revision of 6th July 2012, the FOB prices on the international market increased by 8.562%, 6.33% and 6.34% on petrol, diesel and paraffin, respectively.
Â
Exchange Rate
Â
The exchange rate of Malawi Kwacha to the US Dollar has depreciated by 2.15% over the same period of time from K278.00 to K284.00 to 1US Dollar as of 6th August 2012.
Â
Resultant In Bond Landed Cost (IBLC)
Â
A combined effect of the FOB prices and the exchange rate of Malawi Kwacha to the US Dollar has resulted in increased landed cost for petrol, diesel and paraffin by 8.05%, 6.47% and 6.32% respectively.
Â
In line with the Automatic Pricing Mechanism (APM), MERA has revised upwards the pump prices of petrol, diesel and paraffin.
Â
Effective 6:00 am on 10th August 2012 maximum pump prices for petroleum products will be as follows;
Â
Petrol
From K441.10 per litre to K485.60 per litre (10.09% change)
Â
Diesel
From K445.60 per litre to K475.00 per litre (6.60% change)
Â
Paraffin
From K367.00 per litre to K390.00 per litre (6.27% change)
Â
All filling stations are therefore required to display pump prices being charged on clearly visible signage within their premises.
Â
Â
Â
Â
Â
Â
Â
L.Y. ZINYEMBA
CHAIRPERSON
MALAWI ENERGY REGULATORY AUTHORITY
9th August 2012