By Wadza Botomani
The effects of global economic challenges bites again as the energy regulator, MERA, has adjusted fuel prices beginning midnight following a review of determinants by the Board.
Announcing the new prices ,MERA says prices are will be as follows:
Petrol: K1 999 from 1380 (44.92%)
Diesel: K1920 from K1470 (30.61%)
Paraffin: K1236 from K956 ((29.29%)
LPG: K2 956 from K2500
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 prices were expected following the increased landed costs which have surged up largely due to the devaluation of Kwacha by 25 percent.