MaltaMedia.com

Enemalta has reported that there are no changes in fuel prices over the next month. The above ‘Maximum Retail Price’ reflects the prices fetched by Enemalta for the latest shipments of imported fuel. TFO prices will not be published for the month of June since this is not currently sold to consumers.

The latest unleaded and diesel consignments were based on May Platts prices. The average unleaded and diesel Platts prices in May fell by 12.2% and 6.3% respectively over the month of April. While on average the international petrol and diesel prices dropped to some extent from the previous month, the euro currency has considerably weakened against the US dollar, making diesel and unleased imports
more costly to purchase. This explains the stability brought about in June prices.

During the month of May, ICE Brent crude prices have come off the highs seen earlier this year. In fact, Brent prices averaged $111 a barrel, that is, a 7.7% decrease over April prices (see Figure 1), primarily on the back of concerns over the health of the global economy. However in recent days, despite worries regarding the situation of the Spanish banking sector, Brent crude oil was gaining support after Middle
East oil supply worries resurfaced following minimal progress in talks over Iran’s nuclear programme. Some of the support is also coming from polls results in Greece showing that the New Democracy party is in front of the anti bailout Syriza party and therefore could win the election on June 17.