State House says it is just a matter of time before fuel prices go up in Malawi as the country cannot afford to maintain current fuel prices due to an increase in prices globally.
President Lazarus Chakwera’s spokesperson Anthony Kasunda made the remarks this morning during the State House Quarterly brief in Lilongwe.
Kasunda argued that the war between Russia and Ukraine has hit Malawi hard, particularly in terms of prices of goods.
He noted that before the war in Ukraine, $60 million dollars was used to buy fuel which could be used in Malawi for two months but now the same amount of money is used to buy fuel for three weeks.
He added that Malawi cannot afford to maintain current prices hence the prices will have to go up.
Kasunda, however, argued that the increase will not be huge because President Chakwera has intervened by holding meetings with stakeholders such as National Oil Company of Malawi and Malawi Energy Regulatory Authority (MERA).
“The meetings were aimed at ensuring that the supply of fuel into the country is not disrupted and that even though we expect prices to go up, the new prices should not hit Malawians hard.
“So I assure Malawians that the increase in fuel prices will not be huge. And this could not have been possible without the intervention of President Lazarus Chakwera,” said Kasunda.
Currently, petrol in Malawi is sold at MWK1,150.00 per litre, Diesel is at MWK1,120.00/litre and paraffin is at MWK833.20.
The last time MERA adjusted fuel prices was in October last year. In January, the authority hinted on a fuel price rise but the hike was not implemented.
Last month, MERA said increase in transportation cost for fuel and depreciation of the Kwacha meant that the pump prices qualified for an increase but a hike was delayed because MERA did not have a board.