As predicted in one of my online comments on timesofmalta.com, the price of fuel has gone up. This was expected because the exchange rate of the US dollar has gone up against the euro and so did the price of Brent crude. The increase, however, does not follow the trend in the previous couple of years when, while the overall price at the pump was systematically lowered, excise duty was simultaneously increased at least five times and an undetermined amount of increased profit was absorbed by Enemed (that is, government coffers). This was all for the overall aim of ‘maintaining price stability’.

In order to continue with this admirable plan, I and many others would expect excise duty on fuel to start being gradually returned to 2013 levels, again for the sake of price stability.

I predict that if the international price of fuel does continue to rise, the government will forget to deduct the amount of excise duty on fuel systematically increased as the price of fuel went down in previous years.  It will simply increase the price at the pump.

Furthermore, I invite spokesmen from both main political parties to explain to the easily forgetful public what happened to the 4c profit conceded to petrol stations to allow them to upgrade their equipment.

The overall €25 million that was requested for the upgrades had definitely been achieved by late 2012.

Has this remained part of the stations’ profits or has this been terminated and the 4c per litre absorbed by Enemed?

Maybe the Chamber of Small and Medium Enterprises - GRTU can enlighten the public if this extra 4c-per-litre profit is still being collected by their members in the business.

I expect complete silence from all involved.

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