Estonian fuel retailers raised prices late this morning, with gasoline increasing to €1.949 per liter and diesel to €2.169 per liter. As recently as Friday, a new record had been set (€2.079 per liter); the previous record dated back to March 9, 2022, when the price of diesel rose to €2.059 per liter.

Gasoline 95 and 98 cost more than €2 per liter back in the summer of 2022.

The main reason for soaring prices lies in damaged energy infrastructure in the Middle East and the fact that the strategically crucial Strait of Hormuz, through which one-fifth of the world’s oil flows, is largely closed.

Read more: ERR.EE