Unleaded up by 4c, diesel goes down 4c
Enemalta Corporation announces revisions in fuel prices effective 1st June 2011
Product |
Previous Maximum Retail Price |
Revised Maximum Retail Price |
Change |
Unleaded |
€1.38 |
€1.41 |
€0.03 |
Diesel |
€1.34 |
€1.30 |
(€0.04) |
Kerosene |
€1.34 |
€1.30 |
(€0.04) |
Gasoil for heating |
€0.95 |
€0.95 |
No change |
TFO 200 |
€723.00 |
€0.00 |
Not available |
TFO 450 |
€714.00 |
€0.00 |
Not available |
TFO 900 |
€697.00 |
€0.00 |
Not available |
Unleaded petrol has increased by 3c to €1.41, but diesel and kerosene have gone down by 4c to €1.30 in the maximum retail prices released by Enemalta for the latest shipments of imported fuel.
The unleaded and diesel prices also reflect the increase in petrol stations’ maximum retail mark-up as approved by the Malta Resource Authority.
The price of diesel decreased since the Diesel consignment delivered in May was based on May Platts prices which were 7.7% lower than the previous delivery pricing basis in April.
There were no unleaded consignments in April. This left the price of unleaded unchanged despite increases on the international market.
TFO prices will not be published for the month of June due to Malta Oil Bunkering Corporation closure.
During the first week of May Brent Crude oil dropped by $16.76 a barrel to $109 a barrel, marking the largest weekly decline ever in dollar terms. On the 5 May, the markets experienced a furious high-volume session which was driven by a strong instinct to liquidate positions as key technical levels were broken.
This global dive over all commodities was mainly triggered by factors including a stronger dollar and weak economic data from Europe and the United States. However this correction in the markets was short lived as prices are now seen again hovering near $115 a barrel.
A comparison of Brent crude prices during the month of April and last month shows they tumbled by at least 7.3% from an average level of $123/bbl in April to an average level of $114/bbl in May, its first monthly decline since July 2010. This year Brent crude is up by about 20 % boosted by fighting in Libya that has halted its oil exports and unrest in North Africa and the Middle East.
Petrol Platts prices (CIF Med, Premium Unleaded 10ppm) fell by 3.3% from an average price of $1,091/MT in April 2011 to an average level of $1,055/MT in May 2011. As from March, Platts prices registered an increase of 5.7%.
Diesel Platts prices (CIF Med, Diesel 10 ppm) fell by 7.7% from an average level of $1,051/MT in April 2011 to an average price of $970/MT in May 2011.
The EUR/USD also fell by 0.63% to an average rate of $1.4351 in May