Seimas deputy speaker suggests putting price cap for petrol

  • 2012-08-22

VILNIUS - As petrol prices in Lithuania have reached new records, Seimas’ Deputy Speaker Virginija Baltraitiene says that the National Control Commission for Prices and Energy (VKEKK) should monitor petrol price and put a price cap on it.

The politician says that Lithuania does not have an institution for petrol price monitoring which could say why the prices are going up.

"Fuel is part of energy sector. I think it is high time we set some kind of limit, a minimum or a maximum petrol price at our gas stations. This could be done by the VKEKK which is responsible for energy prices. Perhaps it could set a price cap rather than a precise price of petrol. That might sound like a bit of a heresy but I see no other means to control it," she said.

The politician said that a petrol price hike would results in higher prices of goods and services.

At the moment, the price for 1 liter of A-95 petrol in Lithuanian gas stations is above5litas (1.5 euros).