The price of gas cylinders will be locked at €16 for one year, Energy Minister Joe Mizzi said on Monday. 

12kg gas cylinders currently cost €15.50, having gone up in price by €1 last August. 

He said that following discussions between the ministry, Liquigas, and the regulator for the energy sector, price stability had been reached.

"We wanted to have a stable price for families to ensure no surprises or upsets," he said.

Mr Mizzi said that currently a price of a 10kg cylinder of LPG was around €30 in Italy, twice the price agreed price for Malta. 

READ: Gas prices had risen sharply last August

Asked by Times of Malta how Liquigas had settled on the €16 rate and whether the company had entered into a hedging agreement, Mr Mizzi said only that the company had assured the regulator it would deliver.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.