The Consumer Rights Protection Centre of Latvia (PTAC) has announced increased monitoring of fuel retailers and is urging consumers to report suspicious price increases.
The authority says it has received questions and concerns from residents about the recent surge in fuel prices. In recent weeks, rising geopolitical tensions in the Middle East have triggered strong reactions in global oil and gas markets, which have quickly translated into higher prices at fuel stations.
PTAC stated that it will closely monitor the situation in the market by carrying out various price checks and controls among the largest fuel retailers in Latvia in order to ensure transparency and protect consumer interests.
The authority has also called on market participants to respect the principles of fair commercial practice and not use geopolitical developments as a reason for unjustified price increases. Retailers are also encouraged to clearly explain to consumers the reasons behind any price changes.
To find the most affordable option,
PTAC advises consumers to compare fuel prices at different filling stations and among various retailers.
This can be done using information available on company websites as well as fuel price comparison tools such as kurliet.lv, while also considering loyalty discounts or other available price reductions.
According to earlier reports, the average price of diesel at Latvia’s largest fuel station networks has increased by around 20% since tensions escalated in the Middle East, while the price of 95-octane petrol has risen by 5–7%.
Economists warn that consumers and businesses around the world may face rising fuel prices for several weeks or even months, even if the conflict ends quickly. Oil suppliers may struggle to fully restore production due to damaged facilities, disrupted logistics networks and increased risks in transporting energy resources.
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