Aleksejus Podpruginas | The Lithuania Tribune
The price of
one litre of the most common fuel in Lithuania, 95 Octane, has crossed the priceline of five litas. There is little likelihood of the price going down, according to a report in kurier.lt. There seems to be little justification for such a sharp price increase and Lithuanian drivers recall with strong feelings how only two months ago the price was lower by 50 cents per litre, according to “Lietuvos Rytas.”
“I do not think that fuel prices will rise above the heights of April, because the situation in the oil market is not that hard – the supply and demand is more balanced” – explained the capital market foundations analyst at Bank Finasta, Tadas Povilauskas.
One of the reasons for the rise in the price of fuel is that oil production in the North Sea is rapidly declining. In the next two months there will be a temporary suspension of oil production in one of the largest deposits. Moreover, the price of oil type “Urals oil” has been rising faster than “Brent” type, and their prices are almost equal today. The company “Orlen Lietuva” processes “Urals” type oil, reported kurier.lt.