Prime Minister Robert Abela has warned that escalating tensions between Iran and US/Israel are already driving global energy prices up, but reassured Maltese families that energy subsidies will remain in place.Speaking in Parliament, Abela said the impact on oil markets was immediate following the first strikes over the weekend.“Instantly we saw an explosion in the price of oil ever since the first bombs on Saturday in Iran,” he said, noting that oil prices jumped by around 10%, alongside rising tensions linked to reported attacks on oil tankers in the Strait of Hormuz.He added that natural gas prices also surged, increasing by an average of 25%, with some moments during the day seeing spikes of up to 42%.Abela referenced discussions held during a meeting of EU foreign affairs ministers, where concerns were raised about the potential closure of the Strait of Hormuz, a critical global chokepoint through which around 20% of the world’s oil and gas supply passes.Despite the uncertainty, the Prime Minister said the government remains focused on stability and leadership amid the unfolding geopolitical crisis.He reassured the public that Malta’s energy subsidy system will not be removed, despite rising international prices.Abela said the government remains determined to shield households and businesses from global price shocks, stressing that there are currently no plans to change or withdraw existing energy subsidies.The Prime Minister urged for people to remain calm, saying the government will continue monitoring the situation closely as tensions in the region evolve.What do you make of his statement? View this post on Instagram A post shared by Lovin Malta (@lovinmalta)•