The Centre for Democracy and Economic Development Initiatives (CDEDI) has described the fuel price reduction announced by the Malawi Energy Regulatory Authority (MERA) last night as a mockery of the hardships Malawians continue to endure.
According to MERA, the pump price of petrol has been reduced from K6,209 per litre to K5,619, while diesel has dropped from K6,687 to K6,306 per litre.
However, CDEDI Executive Director Sylvester Namiwa has dismissed the adjustment as insignificant, arguing that it does little to ease the economic burden facing citizens.
Namiwa noted that fuel prices have been increased by an average of 75 percent over the past three months, making the latest reduction of about 9 percent grossly inadequate.
“The reduction is a middle finger to Malawians who have endured relentless increases in the cost of living driven largely by rising fuel prices,” said Namiwa.
He argued that the marginal decrease will have little impact on transport fares, food prices and the cost of essential goods and services, which surged following the recent fuel hikes. He further observed that businesses are unlikely to reduce prices significantly, meaning ordinary citizens will continue to bear the brunt of high living costs.
Namiwa called on government and MERA to implement more meaningful measures, including reversing the 200 percent increase in road and Malawi Rural Electrification levies that was effected in January. He also demanded the removal of the K350 fuel under-recovery charge currently embedded in pump prices.
According to Namiwa, unless such measures are taken, the latest adjustment will remain largely symbolic and will fail to provide meaningful relief to struggling Malawians.
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