Petrol is down by €0.3c

Enemalta announced revisions in fuel prices effective as from tomorrow which will reflect reflect the prices fetched by Enemalta for the latest shipments of imported fuel. The latest unleaded consignment is based on April Platts average price. The previous unleaded consignment was based on March Platts price which on average was higher than the prices recorded in April. Enemalta is also facing increasing security stock costs. The overall result brought about a €0.03 reduction in the petrol prices for the month of May the corporation said. With respect to diesel, there was no consignment during the month of April. A consignment was recorded end of March and as a result was based on March Platts prices. This consignment is therefore being reflected in the closing stock levels of March. The previous diesel consignment, which is also reflected the closing stock levels was based on the average pricing for the month of February which was higher than the March average. Enemalta said that these adjustments in the stock levels together with the increase in the increase in the security stock fees brought about stability in the diesel prices. The €0.01 increase in the price of Light heating Oil is attributed towards the security stock cost component which increased over the previous month.