Watch: Fuel In Sicily Is Twice As Expensive As In Malta, Minister Points Out Over Inflation Woes
Economy Minister Silvio Schembri sought to assuage public concerns on inflation by pointing out that fuel is currently almost twice as expensive in Sicily as it is in Malta.
“I have just come back from Sicily and the price of fuel has exploded over there,” Schembri told Lovin Malta. “It’s €2 per litre, almost double what it costs in Malta. Sicily is an island like us and has more resources than we do, but the Maltese government intervened [to stop prices from rising].”
Recent data shows that fuel in Italy is currently around €2.10 a litre while in Malta it is around €1.30 a litre.
Schembri played down concerns that the government will follow French energy companies in urging people and businesses to limit their fuel and electricity consumption so as to beef up reserves for the winter months.
@lovinmaltaofficial What do you make of Schembri’s points? #fyp #fypmalta #malta #LovinMalta #economyminister #silvioschembri #inflation #fuel #sicily ♬ original sound – Lovin Malta
“Let’s take discussions that are happening in countries in their context,” he said. “Most EU countries consume most of their electricity in winter to heat their homes but it’s the opposite for us.”
“We consume most of our electricity in summer, both to cool our homes and to enhance our economic activity. We cannot use an argument that a European politician is using and state it will apply to Malta too. We are consuming most of our electricity now, in the summer, which is why the government intervened so strongly to absorb the price increase.”
Malta has already spent several millions of euro to cushion energy inflation and hence prevent fuel and electricity costs from rising and Schembri gave no indication that this strategy will stop anytime soon.
Although he acknowledged that the government doesn’t have a bottomless pit of public funds, he argued that the increased expenditure could be sustained through further economic growth.
Silvio Schembri trying his hand out at FIFA at the new Esports hub at the Plaza Shopping Centre
“We must continue expanding the economic cake,” he said, referring to the recent launch of an Esports room at the Plaza Shopping Centre that is intended to attract professional and amateur players alike.
“We’re creating economic niches that we started speaking about three and a half years ago when we launched a strategy. We’re seeing some of the result here.”
“This new economic activity will result in an increase in government revenue, which will allow us to help people out when the need arises, as is the case now and as was the case over the past three years following the pandemic.”
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