After fuel hedging, government now wants LPG price stability

Prime Minister gives rundown of his week in New York; reacts to this week’s ‘Opposition negativity’ but avoids commenting on Simon Busuttil’s call for the resignation of Police Commissioner.

Prime Minister Joseph Muscat.
Prime Minister Joseph Muscat.

After Enemalta Corporation opted for a hedging strategy which would lock the prices of diesel and petrol for three months, Prime Minister Joseph Muscat revealed it was government's goal to achieve a similar policy with regard to gas cylinders.

"After reducing the prices of unleaded and diesel and providing price stability for three months, our priority is to do the same with LPG," Muscat announced.

"With winter approaching, we all know that the consumption of gas cylinders will increase and we also know that having price stability will help households and business."

The Prime Minister, who is now in Toronto, was speaking during a phone-in on One Radio. 

Recounting the Maltese delegation's experience to the United Nations General Assembly, Joseph Muscat said the trip also served to strengthen Malta's bilateral relations with countries in the Mediterranean region.

The delegation's countless meetings with Arab countries included Egypt, Tunisia, Lybia, Pakistan, Qatar and the Gulf Cooperation Council among others. An air service agreement with Kuwait was also signed.

But for the first time, Malta also held a bilateral meeting with Somalia, which Muscat insisted it was his exact wish to do so, ever since he was elected prime minister.

"The majority of migrants who land on Malta's shore come from Somalia and it doesn't make sense not to have a point of contact with this country," Muscat said.

"This is an issue which affects both Malta and Somalia and this meeting was the first step."

He added that he first met informally Somalia's prime minister and held an official meeting with the deputy prime minister: "We formally put forward our call for relations between the two countries and we will keep on insisting for more open channels."

The Prime Minister expressed his satisfaction over the meeting held with Russia's foreign minister Sergei Lavrov.

"Despite him being very busy with the Syrian conflict, the Russian delegation still found time to meet us and this has sent a strong message," Muscat said, adding that Lavrov had been "very-well briefed" on Malta.

Muscat noted that the general assembly itself had been an opportunity for Malta "to place irregular migration on the agenda".

During their five days in New York, Muscat and his wife met with US President Barack Obama and the First Lady and were also invited to an evening with the Bill Clinton family.

'Panicking' Simon Busutill

Reacting to this week's events in Malta, Joseph Muscat said Opposition leader Simon Busuttil was "panicking and isolating himself with his negative attitude".

"He started off with the China agreement, criticising the deal and now he has moved on to Air Malta," Muscat said.

The Prime Minister insisted that the Labour government's plan with regard to Air Malta's restructuring process was the same as that embarked upon by the Nationalist administration.

"We changed no one and nothing. We let the people appointed by the Nationalist government to go on with their plans so that no one would accuse us of having interfered with the restructuring process.

"Irrespective of the outcome of this plan, everyone would then have to shoulder their responsibility," he warned.

Muscat however held back from commenting Simon Busuttil's declaration that the position of the Police Commissioner was no longer tenable.

Busuttil has called for the resignation of Commissioner of Police Peter Paul Zammit, after his predecessor told a court that both the police and the Attorney General had agreed some time between late 2012 and early 2013 that former European commissioner John Dalli should be charged on allegations of bribery.

"His position is no longer tenable. He took this decision on the Dalli case, against the advice of Rizzo and the Attorney General. And Joseph Muscat must take responsibility for this decision," Busuttil had said.

Peter Paul Zammit declared that the police "did not have enough proof to arraign Mr John Dalli in court, to find him guilty without doubt - which is the degree of proof required at law and our courts. This case is still being investigate and at this stage, any statement would prejudice the case. The Commissioner is not ready to enter into any political controversy that could prejudice ulterior investigations on this case."

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Ghal min jixtieq ikun jaf x'inhu hedging, jista' jfittex fuq Wikipedia.org. Bazikament din hi ghodda finanzjarja biex tibbukkja prezzijiet, f'dan il-kaz taz-zejt billi tixtri bi prezz fiss li diga ssibu fis-suq. Allura, hekk iz-zejt Dubai qieghed jinbiegh bil-mitt dollaru kull barmil, il-ftehim ikun jinvolvi li ghal sitt xhur nixtru mitt miljun barmil bil-prezz ta' mitt dollaru kull barmil, u b'hekk tiffriza l-prezz. Il-problema tigi meta l-prezz taz-zejt jaqa' ghax il-prezz li nnegozjajt jaf jigi iktar gholi minn dak li hemm fis-suq. Ezempju hekk il-gwerra fis-Syria ssir iktar gravi jkun hemm l-inkwiet serju fuq il-prezz taz-zejt.
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The price of a 12kg gas cylinder as agreed in 2008 with the EU by GonziPN was €14. However the new company, half of which is owned by Farsons, increased the price consistently to a peak of €21 last year to recoup quickly its investment in the new plant. The price now is €17.30. Let us hope that the price is reduced to its originally intended level so that those on the minimum wage could benefit during the coming cold winter days.
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jon80, nahseb li jkun ta gid ghal;ik u ghhal minn jaqra li qabel ma tikteb tkun taf x'jinvolvi l-hedging u kif jafferwa lill pajjiz
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Ahna hi mhux mill-prezzijiet ta l-elttriku orhos jimputana; mhux minn fuel orhos ; anqas minn gas orhos; imma milli x'ighid Simon Busutill!....x'qal Simon Busutill??????????Bo..!!
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Ahna hi mhux mill-prezzijiet ta l-elttriku orhos jimputana; mhux minn fuel orhos ; anqas minn gas orhos; imma milli x'ighid Simon Busutill!....x'qal Simon Busutill??????????Bo..!!
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jon80 what if what if what if. Is that all ou can say? As usual spreading uncertainty whenever Labour is in government to undermine it but you shall NOT succeed. Continue with your stupid comments Simone. You are the greatest PL asset.
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How will the hedging be monitored against alternative investment options? What is the risk of locking the price and then realizing that our nations' coffers are losing money in view of falling or rising prices of oil and gas?
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Sur Prim Ministru, nahseb ghandek x'taghmel bizzejjed. Toqodx tahli hin prezzjuz fuq dak li tghid l-oppozizzjoni. Jien ghalija jekk tkompli trahhas il petrol, il-gas u l-affarijiet essenzjali gia hija bicca xoghol kbira. Simon u l-KLIKKA kellhom cans bizzejjed biex jaghmlu dawn l-affarijiet, imam mohhom kien kif sejrin jaghmlu biex jistannew min fuq dar il-fqir.