There are some 8,700 electric cars that are registered in Latvia at this time, and that is less than 1% of the total number of vehicles in the country. LETA was told this by Gatis Titovs, fuel category manager for Circle K Latvia.
Titovs said that the popularity of E-vehicles in Latvia is on the rise, but only slowly.
“Other parts of the Baltic region are developing more quickly,” Titovs says. “Tesla recently opened a dealership in Lithuania, and one of China’s largest manufacturers of electric cars has entered the Estonian market. Developments in neighbouring countries could potentially have an impact on growth in the field of electric cars in Latvia.”
The company representative went on to say that Latvia’s retail market for fuel has grown by 1.5% this year, with petrol sales up by 4.6% and diesel sales by 1.5%. This indicates a steady increase in demand for fuel.
“The retail fuel market in Latvia is saturated, and competition is at a very high level,” Titovs explains. “With excessive price differences among retailers, customers migrate among brands, and so price changes in the marketplace have been consistently dynamic.”
The expert added that Circle K has maintained a stable position despite these price fluctuations and is continuing to offer competitive prices, high-quality services, and a high level of customer care.
Titovs also, however, pointed to various amendments to national legislation that are taking effect this year. One example is laws on climate and transport energy, and that will inevitably influence the development of the sector over the next ten years or so.
“Fuel prices continue to fluctuate because of global events, but they have been relatively stable recently,” he says. “That is particularly true when compared to the sharp fluctuations which we saw two years ago. Prices are rising again, mostly because of the escalating situation in the Middle East. The impact of Russia’s war against Ukraine is also still being felt.”
Source: BNS
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