Petrol prices down, diesel, kerosene up

The government yesterday announced a slight reduction in petrol prices, while prices rose for diesel and kerosene.

The price of lead replacement petrol and unleaded petrol has gone down to 38c7 and 35c7 per litre respectively, a drop of nine mils per litre.

The price of diesel has gone up by 1c1 to 24c9 per litre and that of kerosene by 1 mil to 12c8.

The economic services ministry said the changes were made as a result of shifts in the international market over the past three months. The international price of oil rose but was offset by a drop in the value of the US dollar in relation to the Maltese lira.

Fuel prices were first adjusted in April last year, following a budget announcement that prices would be established according to the international market. They were readjusted in July and last October.

Earlier this week, oil prices soared to a two-year high on fears of war in Iraq and the national strike in Venezuela.

At $33 per barrel, it was the highest price since December, 2000.