Petrol prices cut second time in a week ({{commentsTotal}})

Large petrol station chains in Estonia have dropped fuel prices by around 2 cents per liter today, after a similar cut less than a week ago.

Fuel prices are still way off the 0.99 euros-per-liter-mark at the turn of the year, but are fast closing in, standing now at around 1.17 euros per liter.

Diesel prices have also plummeted and now stand around 1.07 euros per liter.

World crude oil prices have dropped from around 55 euros to close to 40 euros per barrel. Prices were just below the 40-euro-mark in January.

The developments on the petrol market may come too late for the government, which passed a controversial tax reform bill in mid-June, increasing tax on fuel by 10 percent. The plan to increase fuel duty drew over a thousand protestors to the streets in April and May.

Editor: J.M. Laats