08:52 am - Thursday 20 September 2018

Fuel price hike to harm Malawians

By Amalawi - Thu Nov 14, 9:51 am

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Malawi: The Consumers Association of Malawi has said it is not surprised by the increase in fuel pump prices due to a number of economic and social failures the country has gone through.

Barely three weeks after another fuel price hike, the Malawi Energy Regulatory Authority (Mera) increased pump prices for fuel.

Mera said in a statement released on Monday that petrol has gone up from K737.60 to K760 per litre and diesel from K730 to K770.20 per litre.

Reacting to the news, Cama executive director John Kapito yesterday pointed out that policies such as the 49 percent devaluation and subsequent flotation of the kwacha in May 2012 were hazardous to the country’s economy because there are no benefits to show that Malawi will have a huge foreign currency reserve after the flotation.

Petrol price up again

Petrol price up again

He said: “The flotation of the kwacha is something we have fought against for so long, but the government and some Malawians have defended it with no tangible results. Our push for a managed exchange rate regime makes sense now as so many things in Malawi are falling apart including their politicised Economic Recovery Plan “The price of fuel will continue to rise which is accompanied by an increase in prices of various goods and services which we have been adjusting on the market. Right now the power is in the hands of the consumer.”

Meanwhile, Minibus Owners Association of Malawi (Moam) secretary Coaxley Kamange said it was difficult to gauge whether the association would increase minibus fares in the country due to the current fuel prices.

However, he said Moam would make its decision after a detailed assessment was made.

The price for paraffin, which is used by the majority of poor Malawians in their households, has not been raised, according to the Mera statement.

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