RIGA - Statoil's Latvian subsidiary raised diesel fuel at all full-service gas stations for the second time in a week on Oct. 13 by 1.5 santims to a record-high 0.494 lat (0.737 euro) per liter, and further rises are not ruled out.
Latvija Statoil logistics manager Eriks Ulmanis told the Baltic News Service that the price had been raised because "the diesel fuel purchase prices on world exchanges have risen to unprecedented heights."
He added that if the world price topped $500 per ton, Latvija Statoil would have to increase diesel fuel prices yet again.
"In the next few weeks, diesel fuel could cost even 0.50 lat per liter," said Ulmanis. He added, however, that diesel prices were unlikely to increase this winter.
At present Statoil stations charge 0.449 lat per liter for 95-octane gasoline and 0.509 lat per liter for 98-octane. Since the beginning of 2004 the company has increased diesel prices by 36 percent, or 0.13 lat per liter, and gasoline 95 by 21 percent, or 0.085 lat per liter.
Other fuel traders have also followed Statoil's lead, raising diesel fuel prices by 0.008 - .015 lat per liter last week and select gas prices by 0.004 - 0.01 lat per liter.
