Petrol station owners are prepared to take action if Enemalta Corporation insists on jacking up the wholesale price of fuel and eating into their profits, The Sunday Times has learnt.

Enemalta CEO Karl Camilleri sent a letter informing petrol station owners the company would be increasing its selling price for fuel by 1.6 cents per litre from July 1, after its three-year agreement with them expired at the end of June.

The letter was, however, withdrawn last Friday night after Finance Minister Tonio Fenech intervened.

Carlo Cini, who heads the petrol station owners' section within the Chamber for Small and Medium Enterprises - GRTU, warned if Enemalta forged ahead with its decision they would not buy fuel. This would mean that petrol stations would run dry, causing pandemonium.

Mr Fenech is hoping the situation will not get to this stage and when contacted he said talks on the issue would continue this week, adding the government was "not closing any doors".

However, Mr Cini said petrol station owners were incensed that even though the letter was temporarily withdrawn, it was sent on the same day they had a meeting with Mr Camilleri to discuss the future of the stations' maintenance fund.

Enemalta confirmed it was in discussions with the GRTU to discuss the profit margins, which at the moment stand at 5.1 cents per litre.

Mr Cini said the issue of the maintenance fund was extremely worrying since by 2020 all petrol stations had to meet higher EU standards.

He explained that in the past, Enemalta used to maintain the stations' pumps, underground storage tanks and such like. But it was later agreed the owners would take on this task and instead Enemalta would contribute two mils (in Maltese currency) for every litre sold towards the fund for the stations' upkeep.

It is estimated that the major refurbishment of all 89 stations in the country would cost some €25 million, but Mr Cini said there was only €4 million in the maintenance fund.

"Who is going to come up with the money?" he asked.

Mr Cini said they were trying to establish what their profit margin would have to be if the owners were to undertake the works , but the GRTU had asked Enemalta to provide it with global fuel sales of all the stations three months ago and these were still not forthcoming.

Three years ago, a total €167 million worth of fuel was sold from petrol stations, but Mr Cini said it would be inaccurate to calculate their costings on this figure since the price of fuel had risen over the years.

"If this issue drags on we are not ruling out taking action," he said.