REVIEW OF PRICES OF PETROL, DIESEL AND PARAFFIN IN THE MONTH OF JANUARY 2019

BACKGROUND

Malawi Energy Regulatory Authority (MERA) considered recent trends in the world petroleum products prices and changes in other macroeconomic fundamentals on the local market and their impact on energy prices.

 

PETROLEUM PRODUCTS INTERNATIONAL PRICES

In December 2018, the average FOB prices of Petrol, Diesel and Paraffin decreased by 12.45%, 15.87% and 15.39%, respectively, when compared to the averages obtained in the month of November, 2018 used in determining the ruling pump prices.

 

EXCHANGE RATE MOVEMENT

Since the last review of the In Bond Landed Cost (IBLC) of petroleum products in November 2018, the Malawi kwacha has slightly appreciated by 0.44% trading at K738.58/USD from K741.87/USD.

 

PUMP PRICES

MERA assessed the combined effect of the movement of the FOB prices and exchange rate of the Malawi Kwacha to the US Dollar as well as changes in local factors that determine the maximum pump prices.

The MERA Board has therefore resolved that fuel pump prices be revised downwards effective 12th January, 2019 as presented below: 

Product Ruling Pump Price (MK/ Litre) Recommended Maximum Pump Price (MK/Litre) Percentage Change
Petrol 923.50 868.00 6.01
Diesel 949.60 874.00 7.96
Paraffin 781.80 710.50 9.12
       

                

All operators are required to sell petroleum products at prices not exceeding these maximum pump prices.

 

 

SIGNED

 

Rt. Rev. Dr. J.P. Bvumbwe                        Dr. Collins Magalasi

BOARD CHAIRPERSON                             CHIEF EXECUTIVE OFFICER

11th January, 2019                                   11th January, 2019