By Takudzwa Mashumba
Malawi Energy Regulatory Authority (MERA) announced an upward fuel price adjustment with effect from today(Wednesday 23 October 2013).
In their statement on Tuesday, MERA said, the depreciation of the Kwacha value and other changes in economic trends have led to such a development.
“Petrol prices have increased from K680.80 to K736.60 per litre while diesel will now be selling at K730.80 from K657.40. Paraffin for domestic use has not changed from K171 per litre but for industrial use it is now K603 from K535.50. The prices are effective from 23/10/2013,” reads the press release on Tuesday.
According to report, since Bingu Wa Mutharika died, the Joyce Banda administration has been struggling to run the nation and has hiked fuel prices five times.
Analysts have dismissed the government’s move as disastrous especially on poor consumers who already are feeling the unbearable pinch of eve rising cost of basic needs every day.
The poverty stricken country have recently suffered a double jaw blow after its most trusted Joyce Banda government looted millions of Kwachas in a cash gate scandal recently at Capital Hill and lost donor funding from western nations.
Western nations have cut off their aid to the nation until a new leadership was in place that was not corrupt and selfish and the Malawian president reacted by putting in a new government that still has a task of winning the support of many Malawians and all hope is set on those donor nations to engage with the poverty-stricken nation.
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