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HomeEstoniaEstonian fuel sellers implement significant price hike

Estonian fuel sellers implement significant price hike

Estonian motor fuel retailers sharply raised their prices on Monday with the price per liter of gasoline increasing by 9 cents, Postimees reports.

The price for a liter of 95-octane gasoline is now 1.799 euros. A liter of 98-octane gasoline costs 1.849 euros, and a liter of diesel fuel costs 1.599 euros. The last time fuel prices were higher than this was at the end of September last year. On Sept. 22, the price for a liter of 95-octane gasoline was 1.819 euros. That was a short-lived record, and the prices quickly dropped afterward.

The price of North Sea Brent Crude has risen by 0.87 percent today. However, compared to a week ago, the price has slightly decreased.

Monday’s price increase means that filling a 50-liter fuel tank with 95 octane gasoline now costs 89.95 euros. According to BNS’ comparison of Baltic fuel prices from Friday last week, filling the tank cost 85.95 euros — four euros less.

Indrek Sassi, the head of fuel pricing at Circle K Estonia, told Postimees over the weekend that the prices of oil and oil products traded on the global market have risen as a result of the war in Ukraine, also leading to higher fuel prices at Estonian gas stations.

“Looking at the recent changes in the oil market, the price of crude oil has risen by almost 6 percent over the course of March, and similarly, the purchase prices of finished products have increased,” Sassi noted.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

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