A drastic reduction in the price of international oil has only translated to a "pittance" reduction in Malta, the Nationalist Party lamented today.

The statement by Nationalist Party deputy leader Mario de Marco comes days after the government announced a reduction of 3c in petrol and 4c in diesel for this month.

The international price of oil has even gone down to $35 a barrel in recent weeks, the lowest rate in seven years. This came about for a number of reasons, from the  removal of sanctions on Iran to a reduction in demand for energy. This meant that prices dropped by 75 per cent from the highest levels registered under the former Nationalist administration.

Consumers in countries like France, Hungary and Cyprus are benefitting from a reduction of almost 30c a litre in the last year.

“Apart from impacting the quality of life of the Maltese and reducing their spending power, Joseph Muscat’s decision to retain the price of fuel among the highest in Europe undermines our competitiveness,” Dr de Marco said.

"The PN appeals to the government to stop this daylight robbery and to give families and businessese their due.”