Maltese Government To Commit €400 Million In 2027 To Continue Subsidising Energy And Fuel Prices

The Maltese Government will spend €400 million this year to keep electricity and fuel prices stable, with another €400 million planned for 2027.

Prime Minister Robert Abela confirmed this ahead of Monday's Budget, saying the Government will continue helping families and businesses avoid higher energy costs.

The announcement comes as countries around the world face rising fuel prices, a higher cost of living and protests over increasing expenses.

While fuel prices have increased across much of Europe, Malta continues to have some of the lowest prices in the EU.

Petrol in Malta costs €1.34 per litre, compared to the EU average of €1.99. Meanwhile, diesel costs €1.21 per litre in Malta, compared to the EU average of €2.14.

For comparison, petrol costs around €2.23 in France, €2.18 in Germany and €2.02 in Italy.

This means Maltese drivers are paying considerably less at the pump than drivers in many other European countries.

Abela explained that Malta's economy is growing by around 4%, allowing the Government to continue spending money to support families and businesses.

He also said Monday's Budget will be shorter than usual and will focus on Malta's plans for the coming years, particularly towards 2035.

However, Malta is still affected by international price increases.

Since Malta imports most of the products we use, higher transport and shipping costs could still make groceries, building materials and other everyday items more expensive.

The Government says these subsidies will continue helping families and businesses by keeping energy prices stable despite international uncertainty.

#MaltaDaily

Photo Credit: OPM.