Fuel prices will continue to drop in March and April

During a meeting of the Maltese Council for Economic and Social Development (MCESD), earlier today, social partners discussed fuel prices and the government’s plans in the sector.

During the opening of the meeting MCESD chairman John Bencini said that contrary to what was reported in the media, today’s meeting was scheduled as soon as GRTU and MHRA requested it. Bencini added that Helena Dalli, whose portfolio includes social dialogur, couldn’t be present for the event because of other official commitments that kept her abroad.

In his speech Minister for Energy and Health Konrad Mizzi, said that a stable policy in fuel prices will continue and that prices will continue to be adjusted in the coming months.

“As a result Enemed will be passing on lower fuel prices for consumers,” Mizzi said. 

Mizzi explained that given such stable policies, Malta had lower prices than the European average in 2014 and that petrol prices fell by seven times whereas diesel prices fell by five times.

“Whereas under the previous administration, the question was how much fuel prices would be increasing due to changing price policies, now, the question is how big the fall in prices will be.

“Today’s meeting is part of the government’s continuous efforts to meet bodies and companies concerned and to discuss subjects that concern economic activity.”

Mizzi listed the changes within Enemalta thanks to a €320 million investment from SEP.

“This investment means that the company debt will fall drastically and that Enemalta will be investing around €21 million to strengthen its distribution system and consequently reduce electricity cuts,” he said.

“Thanks to the current government’s energy policies, we will stop using heavy fuel oils thanks to a new gas power plant and the switch at BWSC to gas, the closure of the Marsa Power Station and the Delimara Phase 1, as well as the closure of the 31st March 1979 facility in Birzebbuga.”