Fuel and diesel retailing at 28c higher than 2009 prices

The price of petrol in Malta is ‘more or less’ the same as it was in March 2009, the Malta Automobile Club has said, namely 28c higher at €1.32 according to the database of the European Commission’s Weekly Oil Bulletin.

MAC president Alfred Farrugia said that when the price of oil in March 2009 was “more or less the same as it is now” diesel was 94c, 28c lower than it was now.

“Does this mean that Enemed is robbing Maltese consumers 28 cents on every litre of petrol and diesel purchased?” Farrugia asked.

“Seven years ago, the price of petrol in Malta was lower that the EU 27 weighted average, whereas now, it is higher. Incidentally, in March 2009, the prices of petrol and diesel net of duties and taxes in Malta, were also the highest among the EU 27 member states.

“This means that both Enemalta then, and Enemed now, were either incompetent to procure petrol and diesel at competitive prices, or they were making extra profits, much more now than was the case then.”

Brent Oil was trading at $44 on 9 March 2009, while now it is at $40.

At present, there are 22 EU member states where the price of petrol is lower than in Malta: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Latvia, Lithuania, Luxembourg, Poland, Romania, Slovakia, Slovenia, Spain and the United Kingdom.

There are six EU countries where the price of petrol is below €1 per litre, with Bulgaria selling petrol at 90.4c – 41.6c lower than in Malta.

There are 25 EU Member States at present where the price of diesel is lower than in Malta which include the same 22 EU countries where petrol is lower than in Malta, with the exception of the United Kingdom, and also including Denmark, Italy, the Netherlands and Portugal.

There are 13 EU countries where the price of diesel is lower than €1 per litre. In Bulgaria, the price of diesel is 85.7c, or 36.3c lower than in Malta.

“For how long is the energy minister going to allow its state-owned company Enemed to continue to rob Maltese consumers as a result of its dominant position in the local market? The Malta Automobile Club retains that the importation, storage and wholesale of petrol and diesel should not remain in government hands.

“These should be transferred to the hands of the local representatives of the foreign oil companies, and allowed to compete among themselves on a level playing field to offer the lowest possible prices to consumers in Malta. Maltese cons