Enemed has announced an increase in the price of all its petroleum products. The company claimed that prices were being reviewed because of the international crude price. E-unleaded, E-diesel and E-power diesel will see a 5c hike in price per litre, while E-power petrol will increase by 4c per litre.
Meanwhile in a statement issued yesterday afternoon, by the Energy and Water Management Ministry said that in spite of the increase forced by the international price of oil, the prices of petrol and diesel in Malta were still 3c and 5c cheaper than the European average.
At the beginning of the year, the international price of oil started off at €47 a barrel, rising by 21% in the past seven months to €57 a barrel. The statement emphasises that while in Europe the prices of petrol and diesel had risen several times, in Malta they remained stable for more than a year.
During the same period, the price of petrol in the European Union averaged around €1.43, 7c more than in Malta. The biggest price difference was in October 2018 and May 2019 when the price of petrol in the EU was 13c higher than in Malta.
The statement continued that even with the price hike as announced yesterday, fuel price in Malta remained 3c lower than the European average.