bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Saturday 30.04.2016 | Name days: Liāna, Lilija, Alta
LatviaLatvia

Gasoline price hits new record in Latvia

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Gasoline prices in Latvia continue climbing and surpassing all the previous price records. Today, December 8 retailer Latvija Statoil filling stations report 95 octane gas price – 81.4 santims per liter, reports the business portal Nozare.lv.

Lukoil sells 95 octane gas for 80.7 santims.

98 octane gas breaks records as well, Latvija Statoil sells it for 84.4 santims per liter, while Lukoil – for 83.7 santims.

Latvija Statoil trades diesel fuel for 81.4 santims, while Lukoil – for 80.7 santims.

The previous record high fuel price was recorded on December 3 at the retailer Latvija Statoil full service gas stations, when 95 octane gas cost 80.9 santims. Early this week reported the same price. 98 octane gas at Latvija Statoil cost 83.9 santims per liter, while diesel fuel – 80.9 santims.

Before the records of the last weeks, the previous all time high gasoline price was reached on July 23, 2008, when Latvija Statoil traded 95 octane gasoline for 79.9 santims per liter, while 98 octane – for 82.9 santims. A liter of diesel fuel at Latvija Statoil cost 89.4 santims at that time.

According to the Estonian media, the state reports gasoline price climb as well. 95 octane gasoline at Statoil costs 18.70 Estonian kroons (84 santims), while at Neste – 18.45 kroons (82.8 santims).

A year ago, gasoline and diesel fuel prices reached about 16 kroons (71.8 santims) per liter, while in early 2009 – 11 kroons (49.4 santims) for gasoline and 13 kroons (58.4 santims) for diesel.

As reported, currently gasoline price is soaring due to euro drop against the US dollar, while the high price for diesel fuel is explained by the sudden frost arrival in Scandinavia.

Latvia imports oil products, therefore their price is very closely linked to price fluctuations in the global markets.

Euro weakening is explained by different financial indexes publication and the grave situation in the eurozone countries as Ireland, Portugal and Spain.

The sudden frost arrival to Scandinavia is another reason for diesel fuel price climb, boosting demand for products with better winter parameters.

The increasing fuel price in Latvia can be affected even more by the rising taxes starting from 2011 – VAT (value added tax) and National reserves duty, which, on the basis of proposals submitted to the government tender could amount to further two santims price increase.

November’s oil prices dynamics in the global stock exchanges proved they have strengthened the positions of the new price range – from 82 to 89 US dollars (from 43 to 47 lats) per barrel, due to growing demand in crude oil markets.


Leave a reply

  1. pop says:

    Wow, this is record high. How about Lithuania?

    Thumb up 0 Thumb down 0

Vladimir Egger re-elected as Chairman of Supervisory Council of Latvian Shipping Company

On Friday, April 29, the Supervisory Council of JSC Latvian Shipping Company repeatedly elected Vladimir Egger as the Chairman of the Supervisory Council, whereas Kaspars Bunne was elected as Deputy Chairman of the Supervisory Council.

Lithuania calls Russia to discontinue its tradition to seek new enemies

On Friday, 29 April, in reaction to Russian Foreign Affairs Minister Sergei Lavrov’s announcement that Lithuania is «the most aggressive, Russophobic country», Lithuanian Foreign Minister Linas Linkevicius called his Russian counterpart to «discontinue the tradition to seek new enemies».

Lavrov: Baltic States are ungrateful for Moscow’s permission leave USSR

Russian Foreign Affairs Minister Sergei Lavrov has recently said that Baltic States have not expressed any kind of gratitude to Moscow for letting them «go in peace» after the collapse of the Soviet Union.

Surplus of municipal consolidated budgets grows rapidly

In Q1 2016, there was a surplus of EUR 110.7 million noticed in the municipal budget, which, compared with Q1 2015, means an increase of EUR 45.1 million, according to the State Treasury.

Latvia’s retail trade increases 0.3%

Compared to March 2015, total retail trade turnover rose by 0.3 % in March 2016. Retail trade in food products grew by 1.0 %, whereas retail trade in non-food products – by 0.2 %.

Latvia’s Gross Domestic Product declined slightly in 2016

Latvia’s Gross Domestic Product value dropped by 0.1 % in Q1 2016 compared to Q4 2015, as emphasized by seasonally adjusted data.

Bookmakers expect Piebalgs to become the next leader of Unity

According to Triobet bookmakers, former European Commissioner Andris Piebalgs will become the next leader of Unity. Piebalgs’ victory at the 4 June Unity extraordinary congress is predicted with 75% probability.

Companies seek funding for Estonian-Finnish gas grid interconnection

Estonian gas grid operator Elering has on April 28 announced that it in cooperation with Finnish firm Baltic Connector has applied for EU co-funding for building a Estonian-Finnish gas grid interconnection.

Poland’s legal row deepens with courts and Warsaw defying government

A number of Polish courts and local governments are opposing the country’s central government in the position of the latter over Constitutional Court reform.

Keris: UGF’s managed government does not want to invest in healthcare

Because of inappropriate and unacceptable healthcare, the country loses approximately 1,500 people of working age every year. This is why on 1 April trade unions will request an increase for funding to healthcare, said Valdis Keris, head of Latvian Health and Social Care Workers Union, in an interview to Latvijas Radio.

Piebalgs predicts intense competition for the reins over Unity

Former European Commissioner Andris Piebalgs does not believe Solvita Aboltina, the current head of Unity, should leave the party.

UN Secretary General criticises European migrant-restrictive policies

UN Secretary General Ban Ki-moon on April 28 condemned restrictive policies on migrants in European Union member states. Ban addressed the Austrian Parliament a day after it passed a strict new asylum law that sets forth limiting asylum rights and allows rejecting most claimants.

Germany ready to station a battalion in Lithuania

Germany is ready to send a battalion-sized unit to Lithuania, as announced by Lithuanian Defense Minister Juozas Olekas on Thursday. According to him, he has received a confirmation from his German counterpart Ursula von der Leyen.

Germany discusses criminalising groping in more cases

Germany’s federal parliament has commenced discussing draft laws aimed at increase protection of women against cases of sexual violence.

Latvia provides asylum to the first refugees from Greece

Office of Citizenship and Migration Affairs has decided to provide alternative status to the first two families of refugees transported from Greece. The two families had arrived in Latvia in February as part of the EU refugee resettlement programme, as confirmed by the office.

Long time party poll leader SDP suffers dip in support

With many already convinced that the ruling Social Democrat Party (SDP) is proof to any scathe amid a string of scandals, the fallout has come belatedly – a new survey by Vilmorus, a Lithuanian pollster, registered a five-percent tumble in the support for the SDP since last month.

Shareholders of Latvian Shipping Company do not support new release of shares

On Tuesday, April 26, regular shareholders’ meeting of joint stock company “Latvian Shipping Company” was held where shareholders passed a resolution to maintain existing share capital at EUR 60,000,000 level and not issue new shares.

Wealthy Latvians actively exceed the pre-crisis level

The level of welfare of 55% of wealthy clients in Latvia is viewed as stable. 31% of wealthy clients have even managed to increase their level of welfare in the past twelve months. This is shown by information of Swedbank Private Banking regarding the volume of funds entrusted by clients – it had grown 9% in 2015.

Jobs to be subsidised in Estonian border region

Estonian government has on April 28 adopted a programme to subsidise wages to employers, who would hire at least 20 of Ida-Viru county’s jobless.

Agriculture price index in Latvia down 7.5%

In 2015, due to 15.8 % decrease in price indices of livestock products, especially decline in milk prices, price indices of agricultural output decreased by 7.5 % as compared to 2014. Price indices of crop products grew by 2.3 %.

Police find a professional marijuana farm uncovered in Iecava

At the end of March, Latvian State Police’s Riga region’s Balozi precinct’s criminal police in cooperation with Zemgale region’s criminal police force uncovered a professional marijuana farm in Iecava.

Volvo also to test self-driving passenger cars

Swedish car builder Volvo has unveiled that as part of an international self-driving car testing programme, up to a 100 semi-automatic cars will be driving in the streets of London.

IMF urges Europe to dissolve Greece’s debts

In parallel to resolving the refugee crisis, the financially desperate Greek government still has to realize a number of economic reforms in order to be provided with a new loan. Meanwhile, the International Monetary Fund asks Europe to provide Greece with major debt reliefs.

Spain’s unemployment rate reaches 21%

Spanish jobless rate has risen slightly to 21% in the first three months of 2016 reaching 21%. The news come at a time, when Spain looks set to hold its second parliamentary election in half a year.

Accidents at work most often injure people with work experience of less than three years

Last year, people with work experience of less than three years had been injured in serious and lethal accidents at work the most often. In one third of all cases, those people were part-time workers, according to the Labour Inspectorate’s data for 2015.

Newest comments