Gasoline prices in Europe reach new all-time high

  • 2012-04-02

RIGA - Last week, gasoline prices continued to rise across Europe, setting a new record: at the moment, a ton of gasoline costs $1.215, a new all-time high for Europe, Latvija Statoil representative Kaspars Skrabans informed business portal Nozare.lv.

The previous record, $1.211, was registered in July 2008.

Back in January, gas cost about $950 per ton. On the other hand, diesel price remains stable, at around $1.050 per ton.

Regardless of a reduction in crude oil prices last week, gasoline prices continued to increase due to rising demand and gasoline deficit as a result of several refineries suspending operations for pre-summer season maintenance.

Financial problems in the euro area, tensions in the Persian Gulf and positive macroeconomic data from the United States, China and Germany also contribute to the high prices.

In Lithuania, 95 octane gas costs 5.02 litas (1.44 euros) per liter today, whereas in Estonia the price is 1.45 euros per liter.

95 and 98 octane gas prices increased by one santim today, setting new all-time highs for Latvia.

Today, 95 octane gas costs 1.049 lats (1.49 euros) per liter at the Latvija Statoil filling stations, the largest fuel retailer in Latvia. 98 octane gas costs 1.079 lats.