Price of gasoline hits new record in Estonia
The price of most popular 95-octane gasoline reached a new record in Estonian filling stations on Wednesday when it hit €2.059 per liter. Gasoline 98 costs €2.109.
The price of diesel has fallen compared to a few weeks ago and was €1.829 per liter on Wednesday.
The recent record price of €2.049 for a liter of 95-octane gas was from May 9.
Russia's military action in Ukraine is one of the factors leading to high fuel prices, with Brent crude selling for $113.46 per barrel on Wednesday.
Indrek Sass, head of motor fuels pricing for gas station chain Circle K, said that world market prices have been growing since the start of May, caused by start of the peak consumption season, global reserves and the process of dropping Russian energy.
"The average buying price for gasoline in dollars has grown by 20 percent in May that makes around 25 percent when converted to euros. No noticeable drop in fuel prices is on the horizon today," Sass said, adding that while Circle K is willing to lower retail prices as soon as world market prices come down, changes in price usually sport a delay of between seven and ten days.
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Editor: Marcus Turovski