Filling your car with diesel will become more costly today as Enemalta hikes the price by €0.103 (4c5), the third increase in a matter of three months.

Though the price for diesel now stands at €1.206 (51c8) per litre, it remains the second lowest in Europe, after Bulgaria, with the EU average price surpassing €1.40 (60c).

The price of unleaded and lead replacement petrol will also go up today by €0.107 (4c6), reaching €1.197 (51c4) and €1.267 (54c4) respectively, making Malta's price the eighth lowest in Europe.

The price of paraffin has also increased by €0.119 (5c1) to €1.296 (55c6), while light heating oil went up by €0.109 (4c8) to €0.933 (40c1).

In a statement yesterday, Enemalta committed itself not to review the prices for unleaded, lead replacement petrol and diesel before the end of this year.

As global fuel prices continued to rocket, Enemalta sought to retain some stability by purchasing petrol and diesel in advance and covering the cost till the end of the year.

Enemalta said it managed to close a contract on the purchase of fuels towards the end of April, when the market had eased somewhat and before prices soared again in the following two months. This translated into a 14-per-cent decrease in the price for Malta consumers, compared to today's market prices.

By purchasing fuels in advance, Enemalta said it managed to save $12.5 million on diesel between April and this month; savings which were passed directly to the consumer.

The corporation will also have saved an additional $14 million on petrol and diesel by the end of the year compared to international market prices.

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