Fuel prices have gone up yet again, with Enemalta citing unfavourable exchange rates along with higher prices as the causes for the increase.

Unleaded petrol and LRP go up by 2c per litre to €1.22 and €1.29 respectively, while diesel and kerosene prices have risen by 1c to €1.04.

The price for gasoil, used for heating, went up 5c to €0.73 a litre.

Enemalta said the revisions reflect the prices fetched for the latest shipments of imported fuel. The April unleaded consignment was based on April Platts average levels, while "the change in May prices reflects the unfavourable exchange rate movements and changes in stock levels".

Enemalta said it had purchased a substantial diesel consignment in March, based on March Platts average levels, which was around seven per cent lower than the reported April averages. This enabled the corporation to limit the increase in diesel prices for May.

It said the euro's weakening from $1.4563 in January to $1.3112 "have been detrimental to Enemalta's retail product purchases".

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