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Friday 28.10.2016 | Name days: Ninona, Ņina, Antoņina, Oksana

Gasoline price hits new record in Latvia

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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

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.

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  1. pop says:

    Wow, this is record high. How about Lithuania?

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