Updated | Labour call out PN’s mistake on oil price

Opposition leader Simon Busuttil to discuss fuel prices with MCESD stakeholders

International price of oil, January 2015 [Source: PN]
International price of oil, January 2015 [Source: PN]
International price of oil, Friday 30 January 2015 [Source: Financial Times]
International price of oil, Friday 30 January 2015 [Source: Financial Times]

Opposition leader Simon Busuttil will be meeting stakeholders in the Malta Council for Economic and Social Development tomorrow Saturday, to discuss the price of diesel and petrol.

The PN has made fuel prices a central plank of its political platform after it noted the decrease in oil prompted by a glut of stocks, that was however not reflected in the hedged price of Malta’s fuel stocks.

“The Opposition has insisted with the government over the last weeks, to reduce the price of fuel. Today the price of oil has plunged to $44 a barrel,” the PN said.

But the Labour Party called out erroneous information divulged by the Nationalist Party in that the price of oil increased to $49.65 today, as opposed to the $44 quoted by the PN.

According to the PL, this mistaken once again uncovered “the PN’s amateurish approach to economics”.

“The PN managed to confuse the price of brent crude oil with the WTI crude oil, used in American markets,” the PL said.

The GRTU, UHM, MHRA and the Chamber of Commerce have also joined the Opposition’s call on government to ensure that prices of fuel supplied by Enemed, are decreased.

“We insist that these prices must go down… Maltese and Gozitan families and businesses have been paying amongst the highest of prices in the EU for months now. This is contrary to countries like Luxembourg, Poland and Sweden,” the PN said.