News | Wednesday, 01 July 2009

Enemalta increases price of fuel

Enemalta announced it was increasing prices for petroleum products due to the increase in the international price of crude oil, as from today.
The price increases are as follows: Unleaded increases by 15c to €1.14 per litre, LRP increases by 15c to €1.21, abnd diesel increases by 10c to €1.21.
Kerosene is down by 13c to 87c, and there was no change in the 61c per litre for heating gasoil.
Enemalta said that according to its present policy, it announces a revision in the prices of its petroleum products as from 1 July 2009 reflecting changes in prices of the last consignments purchased.
Crude oil prices have been recovering from a December low of $32.40 a barrel, back to around $73 a barrel last week.
Crude price has more than doubled in practically just over six months.
The price of petrol increased from $464.25 on the 1 April 2009 to $670.25 on the 25 July.
The price of diesel also increased to a lower degree compared to petrol ($445 on 1 April to $585.5 on the 25tJune) due to global depressed industrial activity.
Enemalta said this international fluctuation in prices led to revise its prices.
Enemalta also said that in June it received petrol and diesel consignments which had contributed towards this price revision.
However, it added, Enemalta managed to keep prices stable for the past three months thanks to its policy to purchase in bulk. “This policy, especially in relation to the price of diesel, has contributed for a stable price over the last three months and a lower increase this time round.”

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