The reductions announced in the prices of unleaded petrol and diesel in the Budget 2015, applicable on January 1, have paled into insignificance given the downward trend in oil at present.

The European Commission published the prices of fuel as they were on December 15. The weighted average for unleaded petrol in the EU was €1.38 per litre, while that of diesel stood at €1.26.

This means that even when the Budget reductions come into force, fuel prices in Malta will still be higher than the EU weighted average.

The price of unleaded petrol in this country is higher than that of 22 EU member states namely, Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, France, Germany, Hungary, Ireland, Latvia, Lithuania, Luxembourg, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.

The price of diesel is higher than that of 24 EU members; the same list as the above together with Greece and the Netherlands.

Given the volatility of the oil market, who are the experts at Enemed that are hedging for extended periods of time?

Would it not be better if these transactions were left to the representatives of foreign oil companies and let them compete against themselves for the benefit of consumers, as the European Commission had declared seven years ago?

When are local consumers going to be treated like other EU citizens? What is keeping foreign oil companies from providing their products and services in the local market? Is there a level playing field so that BP, Esso and Shell service stations and those of other brands could service the inland market as had been requested by the European Commission in 2006?

The Malta Automobile Club is seeking clarifications from the Commission concerning Malta’s compliance with the EU Treaty when it comes to competition, given the current State monopoly on petroleum products.