Fuel prices in Estonia’s gas stations are at their lowest in a long time. Fuel sellers also do not anticipate a price increase in the near future, as global oil prices remain relatively low.
The price of 95-octane gasoline in gas stations is below €1.55 per liter, 98-octane gasoline is under €1.60 and diesel is below €1.40. According to Tarmo Kärsna, head of energy sales at Alexela, prices this low haven’t been seen since 2022.
“There’s currently a surplus of diesel in Europe because the economy hasn’t grown as much as expected, while OPEC countries continue overproduction. They’re not adhering to agreements to limit production. The United States is also having a major impact, as they are ramping up fuel production ahead of the upcoming presidential election to lower fuel prices in the domestic market,” said Kärsna.
At least in the near future, prices are not expected to rise.
“The price will certainly remain at the same level over the next few weeks, but the world is changing rapidly, and you never know what the future holds,” Kärsna noted.