Enemalta announces the following revisions in fuel prices effective 1 August:
Product
Revised Maximum Retail Price as of July 2013 (Eur/ltr)
Revised Maximum Retail Price for August 2013 (Eur/ltr)
Change (Eur/ltr)
Unleaded
€1.47
€1.46
(€0.01)
Diesel
€1.38
€1.37
(€0.01)
Kerosene
€1.38
€1.37
(€0.01)
Gasoil for heating
€1.02
€1.02
No Change
The above ‘Maximum Retail Price’ reflects the prices fetched by Enemalta for the latest shipments of imported fuel.
The latest diesel consignment is based on July Platts average price. The previous diesel consignment was based on May Platts prices which on average were lower than the prices recorded in July. On the other hand the euro currency has strengthened on average over the previous month calculations based on May data and the diesel security stock fees were also lower. These latter factors largely contributed to the €0.01c reduction in August diesel price.
With respect to unleaded, there was no consignment during the month of July. The recorded stock level movements together with lower unleaded security stock fees contributed to the €0.01c reduction in August petrol price.
During the month of July ICE Brent crude prices on average traded higher than the average prices recorded in June, reaching an average of $107/bbl (see Figure 1). However the upward momentum in crude oil prices slowed down this week as concerns about demand growth outweighed potential supply-side risks. Seasonal demand strength is supporting oil market balances, for now.