Fuel prices reach all-time record levels
Fuel prices in Estonia rose again Tuesday, with 95-octane gasoline reaching a record high of €1.499 per liter at pump. Diesel, which cost less than a euro a liter through the second half of 2020, now costs €1.299 per liter.
95-octane gas had reached a price of €1.479 a liter in June and rose to the current price of €1.499 on Tuesday, while 98-octane gas now costs €1.549.
The main driver behind the price increases is rises in the world oil price after historic lows in early 2020 and the arrival of the pandemic. In Estonia specifically, a diesel excise duty cut last year was behind the low prices at pump. Nowadays, Estonia has the highest fuel prices in the Baltics, which encourages commercial hauliers to refuel in Latvia or Lithuania.
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Editor: Andrew Whyte