Fuel prices in Latvia expected to rise by about 10 cents — LSM English
In Latvia, fuel prices again reached €2 per liter and above in early September and may rise by about another 10 cents per liter in the near future. This was reported by LSM English, citing Ieva Ligere, head of the Latvian Fuel Retailers Association.
Prices in Riga
At several filling stations in Riga, the price of A-95 gasoline reached €2 per liter. Diesel fuel there costs from €2.05 to €2.10 per liter.
Ligere said that a rapid and substantial decline in prices is not expected. According to her, retail fuel prices in Latvia are tied to the Platts index, which is rising sharply due to events in the Middle East. Changes in exchange prices affect fuel costs in Latvia and other European countries with a delay of several days.
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Factors behind the increase
The association head linked the forecast price increase to oil prices, the purchase cost of fuel, the geopolitical situation in the Middle East, and supply disruptions in various parts of the world. Forecasts are also affected by uncertainty surrounding the situation in the Strait of Hormuz.
She added that demand for diesel fuel is increasing in Europe as winter approaches. In Lithuania, diesel costs from €2.14 to €2.24 per liter, while in Estonia it costs from €1.97 to €2.07.
At the end of the working week, a liter of liquefied gas in Riga cost €0.915, 8.3% more than a week earlier. In Tallinn, the price of autogas fell by 0.3% to €0.968 per liter, while in Vilnius it remained at €0.809.
