The fuel market in Latvia remained fiercely competitive this year, Gatis Titovs, fuel category manager at fuel retailer Circle K Latvia, told LETA.

He noted that 2025 was a highly dynamic year for the fuel and mobility sector.

According to Titovs, the sector was influenced by extensive discussions and regulatory changes related to the Transport Energy Law, which envisages Latvia’s move toward stricter climate and energy policy targets, as well as by the introduction of the new European Union (EU) emissions trading scheme, ETS2.

He added that competition remained intense this year in both the fuel and convenience store segments, with retailers actively offering a wide range of products and services. “This trend is likely to continue next year,” Titovs said.

At the same time, he pointed out that 2025 was a year of development and investment for Circle K. During the year, the company introduced a new fuel product – 100 percent renewable miles+XTL diesel – expanded its network by opening two new service stations, and relaunched its EXTRA loyalty program.

Circle K Latvia’s turnover in the last financial year, from May 1, 2024, to April 30, 2025, totaled EUR 561.237 million, down 2.6 percent from 2023, while profit fell 5.2 percent to EUR 12.69 million.

Circle K Latvia was registered in 1992 and has share capital of EUR 27.564 million, according to Firmas.lv. The company is owned by Norway-registered Circle K.

Source: BNS

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