Fuel prices are following global oil price changes - Circle K

  • 2020-03-25
  • LETA/TBT Staff

RIGA - Fuel prices in Latvia are following global oil price changes, Gatis Titovs, fuel quality manager at Circle K Latvia, told LETA.

Global oil prices have decreased sharply in recent months, mostly due to the Covid-19 pandemic.

"Fuel prices in Latvia have been following global oil price changes," said Titovs. The fall in exchange prices has not yet been fully reflected in retail prices, the retail prices have decreased steeply in the last ten days. For instance, retail price of diesel fuel has fallen by six cents per liter on the average, while gasoline price by 10 cents per liter, he explained.

Compared to January 20, when the average diesel price was EUR 1.324 per liter, the price had decreased 19 cents, or 14 percent, by March 20, when the average diesel price at filling stations was EUR 1.134 per liter (and even as low as EUR 0.997 per liter at some individual gas stations), said Titovs.

Likewise, there was a steep decrease in gasoline prices since January 20, when gas price at Circle K stations averaged EUR 1.384 per liter, dropping 16 cents or 12 percent to EUR 1.224 per liter on March 20.

According to LETA price surveys, fuel prices have also decreased at other retailers. The average price of 95 octane gas at Neste filling stations has decreased 18 cents per liter, and diesel price even 22 cents per liter. The respective decreases at Viada gas stations were 13 cents and 19 cents per liter.

In the meantime, gasoline prices at Virsi filling stations have remained practically unchanged, while diesel prices decreased by 11 cents per liter.