The Prime Minister has announced a 2c cut in the price of petrol, a cut in the price of LPG gas, and a locking of fuel prices until the end of the year. 

Speaking at the Auberge de Castille with Energy Minister Konrad Mizzi this morning he said that in the past prices used to keep going up, amid claims that nothing could be done to control the situation because of international prices.

Yet the present government had managed to instil stability in the past few months, and it would so again. Although last month (when the petrol price rose by 2c)  prices were fixed till June, the administration was not happy and he could now announce that petrol prices would be going down by 2c to  €1.44 per litre. The diesel price would remain unchanged at €1.36c per litre. Such prices were being frozen up to the end of December.

Such prices, the prime minister said, were lower that practically the whole last year of the PN administration and lower than 2012.

The diesel price, stable for the past 15 months, was the lowest in 27 months.

Dr Muscat said the government's decision meant Malta was the only country in Europe with stable fuel prices up to the end of this year.

This would give stability to families, businesses and potential investors.

GAS PRICES

Turning to gas, Dr Muscat said the price of a 12kg gas cylinder had risen from €5.40 in March 2008 to  €20.60 in December 2012.

The present government had reduced and locked the price and now it had decided that the new price would be reduced from the current €18.40 to €17.10c. The price was being locked until September.

Dr Mizzi said fuel price stability had been brought about despite global instability as a result of international developments. The new prices, he said, had been made possible by long and difficult negotiations abroad as well as talks with the local gas provider.

Dr Muscat said the deal on petrol and diesel prices was between Enemalta and financial institutions and oil companies including hedges on petrol and diesel prices and currency. There were no country-to-country deals in this sphere, but commercial agreements.

AIR MALTA - NO PART-PRIVATISATION ON THE TABLE AT THIS STAGE

Replying to other questions, Dr Muscat referred to his comments about Air Malta yesterday and his comparison with Enemalta.

He said the EU deal for the airline's revamp would have to be lived out.

He said his comparison with Enemalta was on the basis of Air Malta being able to be a contributor to the economy. Just as Enemalta was being turned around, Air Malta was also being turned around, by expanding its route network. Part-privatisation was not on the table at this stage.

 

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