Malawi’s petrol and diesel prices remain among the highest in both regional and global rankings, despite no upward price adjustments in the past two years.
Currently, petrol is priced at K2, 530 (approximately $1.44) per litre while diesel stands at K2,734 (around $1.56) per litre.
According to the latest weekly update by Global Petrol Prices, as of April 14, 2024, the average global price of petrol was $1.27 per litre.
The report notes significant differences between countries due to varying taxation levels and subsidies.
“All countries have access to the same petroleum prices on international markets but decide independently on the taxes imposed. As a result, the retail price of gasoline varies,” the report says.
The latest rankings place Malawi’s petrol price at 27 in the region and 52 globally.
More notably, Malawi’s diesel price ranks as the second highest in Africa, surpassing the Central African Republic, where diesel sells for $2.33 per litre.
Globally, Malawi’s diesel price is at number 39 out of 168 countries.
Regionally, as of April 2025, Zambia’s diesel price was K30.23 ($1.07) per litre, a 7.1 percent decrease from the previous month, while petrol was selling at K34.98 ($1.23) per litre.
Mozambique’s petrol and diesel prices were recorded at $1.34 and $1.35 per litre, respectively.
Zimbabwe’s petrol price remains slightly higher than Malawi’s at $1.53 per litre.
In an interview, Malawi Energy Regulator Authority (Mera) Consumer Affairs and Public Relations Manager Fitina Khonje said while comparisons may suggest that Malawi’s fuel prices are higher than those in its neighbours, multiple factors influence fuel pricing including import costs and exchange rate variations.
She pointed out that Malawi is currently grappling with fuel smuggling to countries such as Zambia and Mozambique, which indicates that Malawi’s fuel is actually cheaper than in neighbouring countries.
“It could be true or not but it is also dependent on how they are defining the ‘region’. Our fuel is being smuggled because the prices here are lower and they know that they’ll be able to make profits when they smuggle the product, motivating people to export the product illegally,” Khonje said.
In a recent interview, economist Marvin Banda highlighted what he termed as “fuel price suppression” in Malawi, arguing that prices did not reflect actual economic conditions.
“What is undeniable is that the state of foreign reserves is directly affecting fuel availability.“However, this situation is not without context; forex shortages have largely been a result of miscalculations following the 44 percent devaluation, which initially drove up fuel prices,” Banda said.
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