Peter MutharikaBusiness Development 

Malawi hikes fuel prices; Predictable tough economic times ahead

Malawians should expect more economic tough times ahead warn economists as the prices of goods are expected to go up following the latest move by the Malawi Energy Regulatory Authority (MERA) to hike fuel prices.

According to the document dated 3 November, 2016 and signed by MERA board chairman Rev Joseph Vumbwe, petrol has risen by 4.62 percent while diesel and paraffin have both risen by 6.38 percent.

This means that a litre of petrol will now be at K824. 70 from K788. 30, diesel is now at K815. 80 from K766. 90 and paraffin is at K648. 70 from K609. 90 in the past.

This comes amid growing hunger and economic crisis in the country.

Recently, President Peter Mutharika ordered ADMARC to open their markets and raise the price of maize to K12, 500 per bag of 50 kilograms.

The fuel hike has also come at time when Malawians are facing persistent electricity problems> Never ending blackouts.

Things are likely to get worse before they get better.

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