Unleaded fuel price down and diesel up for November

Enemalta today announced its fuel price revision effective as from tomorrow, 1 November. The revision will see unleaded fuel sold at €1.51 and diesel at €1.38.

The corporation explained that the revision reflects the prices fetched by Enemalta for the latest shipments of imported fuel.  

It added that TFO prices will not be published for the month of November since this is not currently sold to consumers. 

Enemalta said the latest unleaded consignment was based on October Platts prices.  "The average unleaded Platts prices in October to date fell by 4.32% over the month of September.  This primarily explains the resulting €0.02c decrease in November petrol prices."

On the other hand, Enemalta said that there were no diesel consignments during the month of October and the €0.01c increase reflects the recorded movements in stock levels. 

During the month of October, ICE Brent crude prices marginally fell by 1.12% over September prices, Enemalta noted.

"Over the past months, Brent crude oil prices have generally traded between a range of $100/bbl and $125/bbl, except for the second quarter of 2012, where Brent crude oil prices momentarily fell below $90/bbl mainly on the back of the European debt crisis."

The corporation also said that according to Goldman Sachs, it is expected that Brent crude oil prices remain range-bound over the long-term.

"Despite the weak price developments in October, some analysts claim that supply-side risks are still very much present especially in respect to sanctions on Iran which are having an impact as the country's production and exports are forced lower," Enemalta said.