The Malawi Energy Regulatory Authority (MERA) has reduced the pump price of petrol by K200, from K1,946 per litre to 1,746 per litre.
The reduction represents a 10.25 percent decrease.
According to a statement which MERA has released today, prices of diesel and paraffin have been maintained at K1,920 and K1,261 per litre respectively.
MERA says the recent trends in the world petroleum products prices and their impact on energy prices has led to the decision to cut price of petrol.
The energy regulator has also attributed the reduction to the recent stability of Malawi Kwacha.
“Since the last In Bond Landed Cost (IBLC) review in July 2022 for petrol and June 2022 for Diesel and Paraffin, the Malawi Kwacha has remained relatively stable trading at K1,036.25 against the United States Dollar,” reads the statement in part.
The energy regulator has since urged all operators to sell petroleum products at prices not exceeding the maximum pump prices.
Regardless of this price cut many parts of the country are still experiencing fuel scarcity due forex shortages.