Gas prices up 20-23% in four months
Latest gas cylinder price hikes are the fourth increase in only four months that saw gas prices progressively escalate – the biggest increase coming only weeks before the end of 2010 and the ‘liberalisation’ of the market.
The new gas cylinder prices, announced on Monday and welcomed by government as the “benefits of liberalisation”, that social partners maintain will have a domino effect onto the rest of the industry, raising costs of prices and services.
But the latest price hike is only one out of four that, in quick succession, have pushed the price of gas cylinders as far as 20 to 23% higher than where it stood in September 2010 – just four months ago. Averaged out, it means an increase of between 5-5.75% increase each month.
Comparing gas cylinder prices as they stood in September with the prices announced on Monday, 12kg cylinders increased by €2.30 (20%), while that of 12kg cylinders went up by €2.90 (22.1%). The price of 15kg cylinders increased by €3.50 (21.9%), while 25kg cylinders shot up by €5.80 (22.6%).
Currently, the cheapest door-to-door gas cylinder delivery prices are offered by Easygas. 10kg cylinders priced at €13.40, an increase of €.020c over December’s prices; 15kg cylinders will be sold for €19.50 (an increase of €0.40c); and 25kg cylinders will go for €31.50, €0.60c more than before.
Deliveries of 12kg gas cylinder will only be available from Liquigas for €16, an increase of €0.40c over the previous price.
Just weeks earlier on 30 November, Liquigas announced an upward revision in price that saw the price of 10kg cylinders rise by €1.20, that of €12kg cylinders rise by €1.40, 15kg cylinder prices rising by €1.70 and that of 25kg cylinders increase by €2.80.
Weeks earlier still, in September, Liquigas also upwardly revised prices. A 10kg LPG cylinder cost €11.30 (20c more), 12kg cylinders cost €13.40 (30c more), 15 kg cylinder were priced at €16.30 (30c more), and 25kg cylinders began costing €26.20 (50c more).
The latest price revision prompted considerable ire from the public, business representatives, and unions alike. Some slammed the prices for obliterating the COLA increase so early on in the year, while others lambasted it for the added burdens the price revisions would place on workers and families.
The Labour party has reacted by calling for a national protest on Friday 14 January to protest energy-related price hikes, while government has called for an “urgent” meeting of the Malta Council of Economic and Social Development (MCESD) to discuss the price hikes, which will be held on Friday 7 January.
