Enemalta has announced that fuel prices are to change, diesel and kerosene going up in price and petrol will go down, These new prices are effective from tomorrow, Wednesday the 2nd of May2012.

Unleaded fuel will go down by 1 euro cents and diesel and kerosene will go up in price by 1 euro cents

The revised price list is shown below:

Fuel Product	Previous Price	Revised Price	Change
Unleaded	€1.51	€1.50	€0.01 –
Diesel	€1.39	€1.40	€0.01
Kerosene	€1.39	€1.40	€0.01
Gasoil for heating	€1.03	€1.03	No Change

Enemalta said that “the above ‘Maximum Retail Price’ reflects the prices fetched by Enemalta for the latest shipments of imported fuel. TFO prices will not be published for the month of May since this is not currently sold to consumers.

The latest Diesel consignment is based on April Platts prices. The average Platts diesel prices in April fell by 2.6% over the month of March, however the €0.01c increase was brought about by unfavourable exchange rate movements and changes in the weighted average pricing when considering the movements in the closing stock and sales levels from one month to the other.

There were no Unleaded consignments during the month of April — the €0.01c decrease reflects the recorded movements in stock levels.

During the month of April, ICE Brent crude prices have come off the highs seen earlier this year. In fact, Brent prices averaged $121 a barrel, that is, a 3.2% decrease over March prices (Figure 1). However in recent days, despite news that Iran may be considering halting nuclear expansions to avert the EU oil embargo, oil prices ended higher on the back of an improving macroeconomic backdrop. Prices are also being supported on news that Libya is to exceed pre-conflict output levels by mid-year.

According to the latest Oil Prices Bulletin published by the European Commission, petrol and diesel prices in Malta are both ranked 10th out of the other 27 European Countries. As presented in Table 1 below, the report also shows that consumer petrol and diesel prices in Malta are below the EU weighted averages of EUR 1.679/ltr and EUR 1.514/ltr respectively.

The published prices are inclusive of duties and taxes, and reflect the prices in force as at 23rd April 2012,” Enemalta concluded.

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