Gasoline prices set new Estonian record at €2.079

New record gas prices in Estonia. May 30, 2022.
New record gas prices in Estonia. May 30, 2022. Source: Siim Lõvi/ERR

While prices at the pump have varied slightly by fuel retailer in recent days, the price of the most popular 95-octane gasoline in some locations hit a new record high of €2.079 a liter, or $8.48 per gallon, in Estonia on Monday, surpassing the latest record set less than two weeks prior.

In Central Tallinn, for example, 95-octane gas at Circle K and Olerex cost €2.079 on Monday, up from €2.059 on May 18. Diesel also stood at €1.889, marking a significant increase on recent weeks. Nonetheless, these latest record-setting prices have not yet become predominant across the country.

The global oil market reached its highest point of the past two months on Monday at nearly $120 per barrel, as traders anticipate an EU agreement on restricting Russian oil imports to be reached this week.

The price of Brent crude oil futures for July, which is good through Tuesday, rose 0.3 percent, or by $0.37, to $119.80 per barrel, having briefly reached $120.50 per barrel meanwhile as well.

The price of West Texas Intermediate (WTI) oil traded in the U.S., meanwhile, increased 0.7 percent, or by $0.78, to $115.85, breaking the latest record just set last week.


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Editor: Aili Vahtla

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