“Sqallija L-Prezz Tad-Diesel Huwa Kważi D-Doppju Ta’ Malta”, Says Finance Minister

Taking to social media, Finance Minister Clyde Caruana said that in Sicily, just a stone’s throw away, the price of diesel is almost double that of Malta.

“Petrol is 60% more expensive”, he said. “We are the only country in Europe that has not allowed this to happen.”

“Over the past few years, we have spent no less than €1.35 billion to ensure that the prices of fuel, electricity and gas have never increased. And that is what we will continue to do.”

This comes after the launch of the pre-Budget document for 2027, when Caruana said that energy subsidies are expected to reach around €400 million in 2027.

He also warned that removing this support would have negative consequences for the economy, employment and consumers.

While energy and food subsidies had fallen from €242.5 million in 2023 to €188.1 million in 2025, he said they are expected to rise significantly to €391.7 million in 2026 due to ongoing geopolitical tensions.

Caruana said that over the past five years, the Government had spent €1.35 billion on energy subsidies to protect families and businesses from rising international energy prices.

Malta’s strong financial position allowed it to continue providing this support, adding that the country had kept fuel, electricity and gas prices stable despite increases in global energy costs.

#MaltaDaily