No change in fuel prices
Fuel prices will remain at the current price levels during July as Enemalta Corporation announced that there will be no revision as from tomorrow.
Unleaded petrol will continue to retail at €1.47 per litre, diesel at €1.38, kerosene at €1.38 and gasoil for heating at €1.02.
The above ‘Maximum Retail Price’ reflects the prices fetched by Enemalta for the latest shipments of imported fuel.
The latest unleaded consignment is based on June Platts average price. The previous unleaded consignment was based on May Platts price which on average was slightly lower than the prices recorded in June. On the other hand the euro currency has somewhat strengthened on average over the previous month and this largely explains the stability brought about in July petrol price.
With respect to diesel, there was no consignment during the month of June and together with the recorded stock level movements, this brought about stability in the July diesel price.
During the month of June, ICE Brent crude prices on average traded very close to the average prices recorded in May that is, hovering around the $103.50/bbl average mark. The Brent benchmark registered some correction early this week after the Fed Chairman Ben Bernanke’s speech laid out a roadmap for paring the pace of bond buying and on China slowdown concerns. Uncertainties about Greek political stability and the Eurozone banking bailout together with worries about Chinese growth and financial markets still put pressure on Brent prices.
According to the latest Oil Prices Bulletin published by the European Commission, as at 17 June 2013, petrol and diesel prices in Malta ranked 13th and 15th respectively out of the other 27 European Countries. The EU weighted averages for petrol and diesel are EUR 1.567/ltr and EUR 1.417/ltr respectively. The published prices are inclusive of duties and taxes.