Pump prices for petrol, diesel, paraffin and jet fuel have gone up, Malawi Energy Regulatory Authority has announced.

The announcement is in a statement signed by the new board chair for Mera, Reckford Kampanje

Petrol pump price has been increased by 20 per cent from K1,150 to K1,380 per litre whereas diesel, which was K1,120 per litre has been increased by 31.25 per cent and is now at K1,470 per litre.

Jet A fuel which sold at 898.79 per litre at KIA, will now sell at K1144.69 representing a 27.36 hike. The same sold at K847.87 at Chileka Airport has been increased by 29.36 per cent and will be sold at K1096.81 per litre.

According to Kampanje, the fuel price adjustments have taken into consideration trends in the global petroleum products prices and changes in macroeconomic fundamentals on the local scene.

“Oil prices continue to skyrocket due to fears of security of supply following the invasion of Ukraine by Russia. Economies have resorted to stock building in fear of supply disruption from the war, Russia being one of the largest oil producers,” says the statement in part.

The adjustments are with effect from mid night