Piret Miller, CEO of Olerex, told ERR that, compared to the middle of last week, gas stations have already lowered their prices by a couple of cents.

"Price spill-over to Estonian petrol stations is expected as global market prices continue to fall," said Miller, adding it is difficult to predict how long it will last.

The current economic outlook favors lower prices, he added. This is also supported by the end of the driving season in North America and Europe.

Circle K motor fuel pricing manager Indrek Sass also said prices have fallen.

"As of today, retail motor fuel prices have fallen by five cents in a week. Currently, gasoline 95 miles costs €1.599 per liter and diesel D miles €1.429 per liter," Sass gave an example.

Whether or not prices continue to fall depends on the cost of crude oil and finished products on the world market, he added.

Miller said fuel prices are still affected by circumstances that are difficult to predict, such as the situation in the Middle East and geopolitics.

Gasoline prices fell in August due to lower demand on global markets. There are several reasons for this, such as developments in the Chinese economy, the end of the U.S. peak consumption season, and the rise in U.S. oil production.

Over the last week of August, prices dropped by approximately 10 cents.

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