Fuels up by 2c bar unleaded

Unleaded - €1.41 revised to €1.39 (down 2c)

Diesel     -  €1.30 revised to €1.32

Kerosene - €1.30 revised to €1.32

Gasoil for heating - €0.95 revised to 0.97

The above Maximum Retail Price reflects the prices fetched by Enemalta for the latest shipments of imported fuel.  The Unleaded and Diesel prices also reflect the increase in petrol stations’ maximum retail mark-up as approved by the Malta Resource Authority.

The Unleaded consignment delivered in June was based on June Platts prices which were 3.8% lower than the previous delivery pricing basis (May). The Diesel consignment delivered in June was also based on June Platts averages, which on average were 2.5% higher than the May pricing levels.

TFO prices will not be published for the month of June due to MOBC closure.

During the month of June, Brent crude prices maintained stability over May levels, at an average price of $114/bbl. Oil prices have bounced back from 4-month lows hit last week after the 28-nation International Energy Agency decided to release 60 million barrels of government-held oil reserves. That move aimed to give the slowing pace of economic growth a push and to cover crude oil lost to the market due to the civil conflict in OPEC-member Libya.

A sharp drop in US crude and gasoline stock piles fed a rally in crude oil prices on Wednesday, 29 June 2011, spawned by Greece passing an austerity plan to avoid a sovereign debt default. Brent crude oil futures jumped more than 3% on the day, the most in six weeks and finished at $112.40/bbl.