ROBERT ABELA GUARANTEES STABLE FUEL PRICES AMID GLOBAL OIL PRICE SURGE

Malta’s government has moved quickly to protect households and businesses from rising fuel prices caused by ongoing geopolitical tensions in the Gulf region, Prime Minister Robert Abela said in a parliamentary speech on Monday.

Abela highlighted that the recent closure of the Strait of Hormuz, a key passage for global oil and gas shipments, has driven oil prices above $100 per barrel, at times nearing $120 per barrel, triggering an increase in energy costs worldwide.

“These are challenging times for the world, with geopolitical instability now affecting everyday life in Malta,” the Prime Minister said, pointing out the direct impact on families and businesses.

Despite these international pressures, Abela assured the public that the Maltese government has taken decisive steps to maintain fuel stability.

Thanks to subsidies and prior economic planning, petrol, diesel, electricity, and water prices have remained protected, avoiding any immediate increases for consumers.

The Prime Minister noted that without intervention, fuel prices could have risen by 38 cents per litre for petrol and 45 cents per litre for diesel, highlighting the effectiveness of government measures.

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