Fuel prices in the EU have come down significantly reflecting the falling price of crude oil but the downward trend is still not being reflected in Malta where prices have remained static.
Eurostat figures show that while fuel prices in Malta have remained unchanged since April, in the rest of the EU the price of unleaded petrol dropped by 10 cents per litre, from €1.47 to €1.37, while the price of diesel dropped by 11c per litre from €1.30 to €1.19.
Petrol prices at Maltese fuel stations are still slightly cheaper than the EU average, diesel is 7c more expensive than the rest of the EU – the fourth-highest price.
In Luxembourg, the richest EU member state, the price of a litre of diesel has fallen to under €1 per litre.
Quizzed last Friday, Energy Minister Konrad Mizzi said the government would be reviewing prices in the coming weeks.
“We have some hedges that will expire in the coming weeks and as we did in the past, we will announce a reduction in the price of fuel,” he said. He defended the government’s policy of seeking stability by hedging long term instead on buying supplies according to international spot prices.