Fuel prices spiked sharply at Estonian gas stations and sellers say the price war may be ending. New sanctions on Russian oil have driven up global prices.
On Monday last week, diesel at Estonian gas stations started at €1.189 per liter, but a week later had jumped more than 30 cents to €1.499.
Gasoline, which could be bought a week earlier for €1.35 per liter, or as low as €1.33 at some cheaper stations, was selling for €1.599 by November 3.
Alan Vaht, a board member at gas station chain Terminal, compared the situation among fuel sellers to a sporting event where athletes collapse at the finish line, having left everything on the track.
“For the past two months, the fuel market has seen a brutal fight: margins have been sacrificed, sellers have taken losses on fuel and a lot of money has been left on the table. The difference with sports, however, is that there’s a clear winner there, while in the fuel price war, neither the initiator nor any other seller came out on top — the winner was the consumer,” Vaht said.
Read more: ERR.EE
