The United States and Iran have once again exchanged strikes, while the global public has witnessed yet another high-profile statement by Donald Trump. At the same time, Russia has announced restrictions on diesel fuel exports.
The market reacted immediately. On July 8, Platts diesel fuel quotations surged by USD 125.75 per metric ton, which translates into an increase of approximately 12 euro cents per liter. On July 9, diesel prices corrected downward by USD 54.25 per metric ton, but nevertheless remained significantly higher than they were the previous week.
These fluctuations in the global market have not yet been reflected in fuel prices at Latvian filling stations. Moreover, thanks to promotional pricing campaigns launched by several fuel retailers, Latvian motorists were able to purchase fuel for a few days at prices that were actually below the retailers’ own procurement costs.
However, this situation is unlikely to last much longer. Therefore, there is a high probability that fuel prices displayed at filling stations across Latvia will increase in the near future.
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