Estonia marks second fuel price record in one week

In an upset to Estonian drivers of combustion engine vehicles the fuel prices in the country continue to rise at record pace. On Tuesday, October 5, a litre of petrol 95 cost 1.539 euros, while a litre of diesel fuel – 1.329, Estonian public broadcaster ERR reports.
Just a week ago, the previous fuel price records were set. On Wednesday, September 29, petrol 95 was for the first time sold for 1.499 euros and diesel for 1.299 euros per litre.
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The reason, why prices surge, is the rising global oil price after historic lows in early 2020 and the start of the pandemic. As to Estonia, a diesel excise duty cut in 2020 caused lower prices at the pump. Currently, Estonia has the highest fuel prices in the Baltic states. This motivates commercial hauliers to refuel in Latvia or Lithuania.
On Monday, the price for Brent Crude Oil went up 2.5 percent on Monday and settled at 81.26 US dollars (69.92 euros) per barrel, which is the highest level in the past seven years.