Fuel price hike is fair-Economics expert

Economics expert - Henry Kachaje

Economics expert Henry Kachaje has said the recent upward adjustment of fuel prices is not harmful like some people have been meant to believe.

Writing on his Facebook page, the renowned economist has defended the move with statistics which show the prices trend since 2016.

The shared statistics reveal that fuel prices for December 2020 are lower than 2018 and 2019.

“December 2016 (Petrol K824.17, Diesel K815.80), December 2017 (Petrol K824.70 Diesel K815.80), December 2018 (Petrol K923.50 Diesel K949.60) December 2019 (Petrol K930.00 Diesel K924.00) December 2020 (K834. 60 Diesel K824.40),” reads the statistics

Before fuel prices were reduced to K690.50 for petrol and K664.80 for Diesel in April due to Covid-19, the aforementioned products were selling at K930.00 and K887 respectively.

Malawians fear the upward adjustment will affect prices of other commodies.