Cheapest fuel prices in Europe

Malta is the only EU country where there has not been any increase in the price of petrol and diesel in 2024.

Statistics compiled by the European Commission and published weekly through its Weekly Oil Bulletin show that Malta is the only European member state where there has been no increase in the price of petrol and diesel this year.

On average, from the beginning of January so far the price of a litre of petrol has increased by an average of 13 cents across the European Union, while the price of one litre of diesel has increased by an average of 7 cents. The highest rise in petrol prices was 19 cents in the Netherlands, while the most one litre of diesel rose was 13 cents in Cyprus. Italy, the country closest to Malta, saw an increase of 13 cents in the price of petrol and 7 cents in the price of diesel, which is a increase similar to the rest of the Union.

Malta currently is the country in the Union with the lowest price of petrol and diesel. The price of petrol in the EU averages €1.80c, 46 cents more than Malta, while diesel averages €1.70c, 49 cents more than Malta. The highest petrol price is €2.09c in Denmark, or 75 cents higher than Malta, while the highest price of diesel is €1.88c in Finland, or 67 cents more.

European Commission statistics reveal that, since the Government change in 2013, in Malta the price of petrol and diesel has fallen by 11% and 14%, while in the EU, petrol and diesel have increased by 15% and by 20%. In contrast before 2013, petrol was up by 36% and diesel by 35% at a time when, in the EU, over the same time the increase was 21% in petrol and 17% in diesel.

While between March 2008 and March 2013 the price of petrol increased by 39 cents and diesel by 36 cents, from the first full month of the current administration the petrol price has fallen by 10 cents while diesel costs 12 cents less. Most of this fall, 7 cents, has occurred since 2020.

Photo: Engin Akyurt

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