New fuel price revisions for 2011

Enemalta Corporation announces revisions in fuel prices effective 3 January 2011.

2 January 2011, 12:00am

1 min read

Fuel prices have hit new highs leading to concern from many businesses - dependent on transport - that the costs are far too high. Unleaded fuel goes up by 4c from €1.27 to €1.30, while both diesel and kerosene go up by 6c from €1.15 to €1.21, as does gasoil for heating from 77c to 83c.

These revisions reflect the prices fetched by Enemalta for the latest shipments of imported fuel. The December petrol and diesel consignments were based on December Platts prices which on average were higher than the previous delivery pricing basis, as a result of the rise in international crude oil prices and the increase in demand due to the freezing temperatures in Europe .

The International Energy Agency (IEA) said last week that the recent oil price spike was largely due to a rise in consumption in the third quarter of 2010 in the U.S. and Europe. Such a trend is expected to continue for a while, even into the New Year.

Crude prices hovered just below a 26-month high struck in the past sessions as a blizzard on the U.S. East Coast boosted demand for heating oil. Prices were also supported by OPEC's resistance to pumping more crude through 2011 as the market was well supplied and comments by Kuwait 's oil minister that the global economy could withstand an oil price of $100 a barrel. ICE Brent crude is trading close to $94.00 a barrel.

Petrol Platts prices (CIF Med, Prem Unl 10ppm) increased by 6.4% from an average price of $784/MT in November 2010 to an average level of $834/MT in December 2010.

Jon Sciberras •

You have mistakes on your prices, they are higher unless the Petrol stations are charging an extra 1c euro ? especially on unleaded ?

Luke Camilleri •

.....and we were just wished a HAPPY New year...but that was in 2010, just like Gonzipn electoral promises! Thorny

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Right you are. We should have a list of these f-------s and boycott them altogether. Then GonziPN should subsidize them. They are partners in sucking the living daylights out of the Maltese people. But then, don't forget to extend this measure to GonziPN when you're at the hustings. If you don't do that you'ld really deserve the appellation "sucker", m8:)

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well i went to fill my car at FALZON PETROL STATION only to find that he put the prices up by 10 pm so i went to fill up at the petrol station near kinds in naxxar still selling at 4 cents cheaper a litre looks like falzon have lost a customer i suggest we all ban this petrol station on birkikara

Alfred Galea •

And it's gonna get worse....far far worse. Just Ray....you're dreaming.

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You're right, my friend. GonziPN forever!!!

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Very tal-misthijja. We are counting the days to get rid of you once and for all dear government

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My dear fellow workers, Next Friday you will be getting a Eur 1.16 wage increase. If, like me, tomorrow you will be filling your tank of petrol with 20 ltrs you will be forking out Eur 0.80 from such increase. The big ones? They will find a Eur 600 inrease in their pay pocket and no, they will fork out nothing from their own pocket for fuel. For the big ones, fuel is free of charge. This is what the big ones call SOLIDARITY!! Happy new year to you all!!