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Fuel shortage deepens as banks stop letters of credit

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Story summary
  • Malawian drivers face days-long queues at petrol stations as the national fuel shortage deepens.
  • The National Oil Company of Malawi reports daily fuel consumption of 2 million litres, needing $49 million foreign exchange each month.
  • International banks are refusing letters of credit, stopping tanker arrivals at regional African ports.
  • Taxi operator Gift Ngala buys illicit fuel at inflated prices, forcing higher fares for low-income commuters.