Energy Minister Miriam Dalli has said that the recent surge in international oil prices will not be reflected in local consumer prices, despite escalating tensions between the United States, Israel and Iran.In a Facebook post following a Cabinet meeting on Tuesday, Dalli reassured the public that the government would continue to shield households and businesses from volatility in global energy markets.Prime Minister Robert Abela had told parliament a day earlier that the government would guard against any economic fallout stemming from the conflict in the Gulf.Dalli said Malta had provided “peace of mind and stability” during previous crises, including the COVID-19 pandemic, earlier Middle East tensions and the ongoing war in Ukraine. She stressed that the current turmoil abroad would not impact local electricity tariffs or fuel prices.Earlier on Tuesday, the government said Malta’s energy and fuel sector is diversified and supported by hedging agreements designed to maintain price stability even when international markets fluctuate sharply.Global oil prices have climbed in recent days as fighting in the Middle East disrupted shipping through the Strait of Hormuz – which has since been closed – a key energy corridor. However, Maltese authorities insist existing safeguards are in place to prevent the spike from reaching consumers. •