It was not possible for Enemalta to enter into any forward buying agreements for oil next year because international prices were persistently higher than those on which the tariffs for this year had been calculated.

Answering a parliamentary question by Charles Mangion (PL), Finance Minister Tonio Fenech said oil prices had fluctuated between $96.893 and $114.44 per barrel, while the tariffs were calculated on $81.80.

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