Chakwera’s doomed Canaan bites as fuel prices up by 44%
Barely, a month after Malawi Kwacha was devalued by 25%, the country “s energy regulator, Malawi Energy Regulatory Authority on Wednesday, June 22, 2022 adjusted fuel prices beginning midnight following a review of determinants by the Board. He further said the Price Stabilization Fund could not cushion the price increases as there are no savings.
LILONGWE-(MaraviPost)-President Lazarus Chakwera’s Tonse government continues failing to content ailing economy as prices of essential commodities keep on raising.
Barely, a month after Malawi Kwacha was devalued by 25%, the country’s energy regulator, Malawi Energy Regulatory Authority (MERA) on Wednesday, June 22, 2022 adjusted fuel prices beginning midnight following a review of determinants by the Board .
The new prices are up by 44.9% as follows:
Petrol: MK1 999 from 1380 (44.92%)Diesel: MK1920 from K1470 (30.61%)Paraffin: MK1236 from K956 ((29.29%)LPG: MK2 956 from MK2500
The MERA CEO, Henry Kachaje says landed costs for all petrolium products have increased by 39.45 for petrol, 21.94 percent for diesel, 13.45 for paraffin and 25.69 for LPG.
He further said the Price Stabilization Fund could not cushion the price increases as there are no savings.
The newly announced fuel prices .
President Chakwera’s Tonse government is currently unable to contain cost of living while giving excuses on COVID-19 and Russia-Ukraine war.
The post Chakwera’s doomed Canaan bites as fuel prices up by 44% appeared first on The Maravi Post.
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