By Stacey Phoso
The Malawi Energy Regulatory Authority (MERA) has announced a 15.25% upward adjustment to the maximum retail price of Liquefied Petroleum Gas (LPG) across the country, effective October 16, 2024.
This revision aims to mitigate the impact of the depreciating Malawi Kwacha against major global currencies, which has increased LPG's landed costs.
The current maximum retail price for LPG will increase from 3,245 Kwacha per kilogram to 3,740 Kwacha per kilogram. According to a statement signed by MERA's Chief Executive Officer, Henry Kachaje, this decision is crucial to maintaining the industry's viability by ensuring operators achieve sustainable returns on investments.
MERA emphasized that displaying prescribed retail prices for LPG at business premises is mandatory under the country's energy laws. This move ensures transparency and consistency in pricing.
The price adjustment comes amid reports of fuel shortages in some parts of the country, such as Balaka, as reported by local media outlets like TTV.
MERA's decision aims to stabilize the energy market and prevent potential disruptions. With this adjustment, MERA seeks to balance the interests of operators and consumers, ensuring a sustainable energy supply.
In recent times, Malawi has faced challenges in fuel supply due to forex shortages and logistical issues.
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