I refer to Albert M. Bezzina’s letter on June 1 entitled Has The Price Of Fuel Gone Up Again? Mr Bezzina’s predictions, in this case, are based on references which have no relationship to references that are eventually purchased by Enemalta.
The product references being quoted in this letter, such as New York Harbour Conventional Gasoline Spot Price and New York Harbour Ultra-low Sulphur No 2 Diesel Spot Price are nowhere close to the European Platts references Enemalta physically purchases and eventually the ones used as a basis for fuel price revisions.
These references are Premium Unleaded 10 ppm and ULSD 10 ppm CIF Med for petrol and diesel respectively. Even the percentage changes quoted on the New York pricings are not even close to the percentage changes Enemalta quoted in the fuel revision prices for June.
Ultimately, one cannot calculate predictions on benchmarks that are not in any way related to Enemalta’s basis of pricing.