By 31-1-2013
Enemalta announces the following revisions in fuel prices effective 1st February 2013:
The latest unleadedand diesel consignmentswerebased on JanuaryPlatts priceswhich on average roseby 6.5% and 3% respectively over December prices. While on average the international petrol and diesel prices edged higher during themonthof January, the euro currency has considerably strengthenedagainst the US dollar (see Figure 2)and this explains the stability brought about in Februaryprices.
During the month of January, ICE Brent crude prices rose by 2.6% over December prices (see Figure 1). Brent contract edged higher, moving out of its narrow trading band around $111/bbl, and posting a fresh three month high. According to Barclays Capital this recent upward move was more so from a combination of factors reinforcing constructive market balances and sentiment, rather than being triggered by a significant news event activating momentum. The positive factors include improved global macroeconomic sentiment, increased geopolitical instability (Syria, Algeria, Libya) and good Chinese oil demand figures.
Figure 1:ICE Brent Crude (January 2011 - January 2013)
Source: Reuters
According to the latest Oil Prices Bulletinpublished by the European Commission, as at 28 January 2013, petrol and diesel prices in Malta ranked 13th and 10th cheapest respectively out of the other 27 European Countries. As presented in Table 1 below, the report also shows that consumer petrol and diesel prices in Malta are below the EU weighted averages of EUR 1.576/ltr and EUR 1.470/ltr respectively. The published prices are inclusive of duties and taxes.
Table 1: Unleaded Consumer Prices Inclusive of Duties and Taxes (Prices in force on 28/01/2013)
EU Country
|
Unleaded 28_01_2013(Euros/litre) |
EU Country
|
Diesel28_01_2013 (Euros/litre) |
Poland
|
1.280
|
Luxembourg
|
1.241
|
Bulgaria
|
1.287
|
Poland
|
1.295
|
Romania
|
1.291
|
Bulgaria
|
1.305
|
Estonia
|
1.328
|
Romania
|
1.345
|
Luxembourg
|
1.349
|
Lithuania
|
1.347
|
Lithuania
|
1.380
|
Estonia
|
1.368
|
Czech Republic
|
1.381
|
Latvia
|
1.372
|
Cyprus
|
1.383
|
Spain
|
1.375
|
Latvia
|
1.385
|
Austria
|
1.379
|
Austria
|
1.405
|
Malta
|
1.380
|
Hungary
|
1.406
|
France
|
1.389
|
Spain
|
1.427
|
Czech Republic
|
1.398
|
Malta
|
1.470
|
Slovenia
|
1.407
|
Slovakia
|
1.496
|
Greece
|
1.419
|
Slovenia
|
1.516
|
Slovakia
|
1.421
|
United Kingdom
|
1.556
|
Portugal
|
1.423
|
France
|
1.571
|
Cyprus
|
1.425
|
EUR 27 Average
|
1.576
|
Belgium
|
1.436
|
Portugal
|
1.592
|
Hungary
|
1.441
|
Germany
|
1.605
|
Netherlands
|
1.458
|
Ireland
|
1.607
|
Germany
|
1.460
|
Belgium
|
1.621
|
EUR 27 Average
|
1.470
|
Finland
|
1.627
|
Denmark
|
1.474
|
Sweden
|
1.689
|
Finland
|
1.548
|
Denmark
|
1.697
|
Ireland
|
1.554
|
Greece
|
1.710
|
United Kingdom
|
1.647
|
Italy
|
1.751
|
Sweden
|
1.670
|
Netherlands
|
1.753
|
Italy
|
1.691
|
During the month of January2013, the euro currency gained value against the US dollar to an average level of $1.3262 compared to the December average rate of $1.3119. In the last week of January the euro rose to its highest level in 14 months against the dollarhitting $1.35280. Recent upbeat German data showed the euro zone's biggest economy may be on a path of steady recovery, while signs European banks may have turned the corner have bolstered optimism that the worst of the bloc's debt crisis has passed. The momentum towards the euro is so positive that investors brushed aside a sharp contraction in the Spanish economy.
Figure 2: EUR/USD trend (January 2012 - January 2013)
Source: Reuters
30/01/2013
Price' reflects the prices fetched by Enemalta for the latest shipments of imported fuel. TFO prices will not be published for the month of February since this product is not currently sold to consumers.
Product
|
Previous Maximum Retail Price
|
Revised Maximum Retail Price
|
Change
|
Unleaded
|
€1.47
|
€1.47
|
No Change
|
Diesel
|
€1.38
|
€1.38
|
No Change
|
Kerosene
|
€1.38
|
€1.38
|
No Change
|
Gasoil for heating
|
€1.05
|
€1.05
|
No Change
|
|
distributed by
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