As announced yesterday, Prime Minister Joseph Muscat called an urgent press conference for 10.15am.

On Tuesday, the PM said that he had some "good news" to deliver to the Maltese people, leading to thoughts of mega-projects and investment that would have created jobs at a time when unemployment is on the rise, or some solution to the problems being encountered in the health sector.

But... after so much big hype about the "good news" he was to announce... what he "announced" was that the price of petrol is going down by two cents and diesel price will remain unchanged till end of the year.

The LPG cylinder price will go down by 1.30 euros to 17.10 until end of September.

Usually, such announcements are made by Enemalta Corporation in a terse press release at the end of each month. They fluctuate according to international trends, meaning that if the international price goes down in the coming months, the prices in Malta would be locked at a higher price than what is available.

But the government today thought it fit to call the media for the PM to give the announcement himself, reminiscent of the times when in budget speeches announcements were made that the price of corned beef or tuna had gone down by a few mils.

It must also be recalled that no press conference was called by the PM when he announced a widespread Cabinet reshuffle in March, a much more important decision than what was announced today.

Flanked by Energy and Health Minister Konrad Mizzi in the Castille courtyard, Dr Muscat spoke at length about the government's work to bring prices down in the energy sector, starting off with the reduction in water and electricity bills.

Although last month’s petrol and gas prices were fixed till June, the government is not happy and he could now announce that petrol prices would be going down by 2c to  €1.44 per litre. The diesel price would remain unchanged at €1.36c per litre. Such prices are being frozen till the end of the year.

The prices were lower than practically the whole last year of the PN administration and lower than 2012, the PM said.

The price of diesel, stable for the past 15 months, was the lowest in 27 months.

Dr Muscat said the government's decision meant Malta was the only country in Europe with stable fuel prices up to the end of this year.

Dr Muscat said the price of a 12kg gas cylinder had risen from €5.40 in March 2008 to  €20.60 in December 2012. The present government had reduced the price and now it will lower it even further to €17.10c. The price will be locked until September.

Use of gas during the summer months is lower than during the winter months, when it is used by many families to heat up their homes.