MaltaMedia.com

Enemalta has announced a 3 cents increase in the price of diesel, while the price of unleaded petrol has remained the same.

The price of diesel has increased by 3 cents, from €1.31 to €1.34, while that of unleaded petrol remains unchanged at €1.38. The price of kerosene was going up by 4 cents – from €1.30 to €1.34 and that of gasoil for heating by 2 cents, from 93 cents to 95 cents.

The above Maximum Retail Price reflects the prices fetched by Enemalta for the latest shipments of imported fuel. The Unleaded and Diesel prices also reflect the increase in petrol stations’ maximum retail mark-up as approved by the Malta Resource Authority.

April Diesel consignment is based on April Platts prices which were higher than the previous delivery pricing basis. There were no Unleaded consignments during the month of April and the stability in the Unleaded price reflects movements in stock levels.

Brent Crude oil prices have recently topped $126 a barrel amid civil unrest in the Middle East and North Africa, a weakening U.S. dollar and strengthening global demand for petroleum products following the recession. In April the IEA claimed that current oil prices are harming global growth and they are already seeing signs that consuming nations are being impacted.

The latest data from the US showed that petrol and diesel demand had stalled while China raised retail prices by 5.5% to ease the burden of higher curde prices for state refiners and encourage them to produce enough to meet demand.

The prices of petrol and diesel are influenced directly by the price of oil in international markets. President Barack Obama urged world oil producers to lift crude output in an attempt to deflect public outrage over high prices at the pump.

A comparison of Brent crude prices during the month of March and last month shows they have gone up by at least 7% from an average level of $115/bbl in March to an average level of $123/bbl in April.