Petrol and diesel to increase by 5c per litre

Enemed, the State-owned fuel supplier that has a dominant market position, said petrol and diesel prices will go up as from tomorrow

Petrol and diesel will both go up by 5c per litre from 1 August
Petrol and diesel will both go up by 5c per litre from 1 August

Unleaded petrol will retail for €1.36 per litre and diesel for €1.23 per litre from tomorrow, the State-owned company Enemed said.

Both fuels will increase by 5c per litre. The company also said that the super petrol, known as E-Power, will also increase by 5c and will retail for €1.51 per litre.

The last price revision was in January 2017 when the price of petrol and diesel rose by 4c per litre.

In a short statement released by Enemed on Tuesday evening, the company did not explain the increases.

Enemed was created when the petroleum division was hived off from Enemalta. It is by far the dominant market player in fuels.

According to the latest oil bulletin released by the European Commission on 23 July, petrol in Malta was 9thcheapest in the EU and diesel the fourth cheapest.

In a separate statement, the Energy Ministry said the revised prices still leave Maltese motorists paying well below the EU average.

Petrol is now the 13thcheapest from 28 countries and diesel the 9th cheapest.

The ministry said the government’s policy for price stability in fuels has ensured that over the past 82 weeks, petrol in Malta was 6c cheaper than the EU average, while diesel was 7c cheaper.

The ministry said the international oil prices have been rising since March and applauded Enemed for its work to mitigate the negative impact on consumers.

 

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