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After excise tax reform, petrol in Riga becomes the most expensive in Baltic States

Photo: pixabay.com.
Following the increase of excise tax for fuel in Riga, 95th brand petrol became the most expensive in Baltic States in the first week of 2018.

Petrol price was the highest in Riga in the first week of 2018. Petrol was slightly cheaper in Tallinn, whereas the cheapest petrol was found in Vilnius. The highest price for diesel fuel was found in Tallinn and the lowest – in Vilnius.

Compared with the first week of the previous year, fuel price rise was observed in all Baltic States. 95th brand petrol cost 4.8% more in the first week of 2018 than it did in the same week of last year. The price in Tallinn was 3.9% higher and in Vilnius it was 4.2% higher.

Diesel fuel price in Riga was 4.2% higher, in Tallinn it was 5.1% higher and in Vilnius – 5.4% higher.

Following the excise tax rise, the price of 95th brand petrol at Circle K petrol stations in Riga has increased 4% – to 1.262 EUR/l, whereas the price of diesel fuel increased by 3.3% – to 1.182 EUR/l when compared with the last week of 2017.

In Vilnius, the price of 95th brand petrol at Circle K petrol stations was 1.214 EUR/l, which is 0.5% more than fuel cost last Friday. Diesel fuel price has grown 2.3% and has reached 1.133 EUR/l.

At the same time, the price of 95th brand petrol in Tallinn has grown 0.6% – to 1.256 EUR/l. The price of diesel fuel has also grown 0.6% – to 1.276 EUR/l.

The price of autogas remained unchanged only in Riga, where it was 0.545 EUR/l. In Tallinn the price has grown 8.3% (to 0.649 EUR/l). In Vilnius the price has declined 0.2% – to 0.56 EUR/l.

As it is known, starting from 2018 the price of fuel in Latvia proportionally consists of excise tax (around 35%), VAT (around 17), retail trade and petrol stations’ maintenance costs (7%), state mandatory reserves storage fee (around 1%) and fuel value (around 40%). The latter is affected by oil products’ exchange.


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