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New fuel hedging strategy for price stability
Price of unleaded down by 6c, diesel by 2c and to remain so until end of 2013.
28 September 2013, 12:00am
Miriam Dalli
Miriam Dalli
1 min read
Energy Minister, Konrad Mizzi.
A pilot project embarked on by Enemalta Corporation has led to the reduction of fuel prices for consumers, which prices will remain unchanged until the end of December 2013.
As from 1 October, the price of unleaded will be set at €1.43 - a reduction of 6c - while the price of diesel will be at €1.36, marking a 2c reduction.
The prices were achieved after Enemalta reached an agreement with international banks Barclays and Deutsch Bank for a three-month fixed price and with local banks HSBC and BOV for a fixed currency exchange rate.
Addressing the press, Energy Minister Konrad Mizzi said it was government's policy to seek price stability in fuel prices which would provide stability for families and businesses in their planning.
Miriam Dalli joined MaltaToday.com.mt in 2010 becoming assistant editor f...
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Dan kollu grazzi ghax xogholl siewi li ghamel GonziPN! Giovann DeMartino sar minnu?
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Imma kif Toni ta l-arlogg qatt ma ghadietlu mill garigori ta mohhu. Nahseb li meta darba qal CUC MALTI kien ghadu kif warrab minn quddiem mera.
Xmun ara issibx xi tibna ma xhiex taqbad biex taghmel konferenza stampa ohra halli terga tohrog ta mazetta ghal darba ohra
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Bil-pala u l-fis.............
31.48% Excise Duty u 45.77% VAT
madwar 700ml fuq €35 petrol
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@davidp: when your beloved GonziPN was last in government in March the price of crude oil was $85 a barrel and EneMalta's petrol price was €1.48c. Today the price of crude oil is $103 yet the petrol price has been reduced to €1.43c and you are complaining and deceiving! People like me will ignore whatever you write in future.
joseph mercieca •
Conrad Mizzi I am sorry to say fudged it again. How dare he not phone Simon first?
Seriously though it seems that this government just can't wait to reduce energy. We might interpret this as a tiny apetizer of the main dish that is going to be served in a few months time.
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ma nafx hux vera ..jien smajt li Simon Beppe Toninu u Jason ser jirrifjutaw jixtru il petrol u diesel b dan il prezz ghax qalu li ma jistax ikun li jinbieh irhis daqshekk.Halluna u morru irrangaw darkhom l ewwel
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Bhala grazzi mill-partit nazzjonalista issa stenna attakki bir-razza u bir-radika. Dawn l-insara hekk japprezzaw ix-xoghol li inti qed taghmel ghalina lkoll, inkluz ghalihom.
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@davidp - "If things go well in Syria". You must be dreaming, no disrespect intended towards you. But have things gone well in Tunisia, Egypt and Libya? These people, with all due respect to the Arab world, have the same blood running in their veins with modern day tribal leaders as their rulers.
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A logical step to take with crude prices at a three month low.
If things go well in Syria we could still see prices below the current spot levels of about $103 per barrel, coming after a 7% drop since Sep 6th 2013, but that's the risk one takes when locking in a hedge!
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Nispera li ghatulu lil simon bdin qabel il press conf, ghax iqqajem panic.
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It seems quite clear that the Minister for Energy the Hon Konrad Mizzi is not only capable into turning our power plants into more efficient ones but also capable in conducting business deals which in the long last benefit us citizens.
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It seems quite clear that the Minister for Energy the Hon Konrad Mizzi is not only capable into turning our power plants into more efficient ones but also capable in conducting business deals which in the long last benefit us citizens.
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