Lithuania fuel prices rise amid high crude oil costs

Fuel prices in Lithuania are rising, driven by geopolitical tensions in the Middle East and fluctuations in Brent crude oil prices, which reached an average of approximately $105.8 per barrel in mid-September. As of September 22, the average price for diesel in Lithuania was 2.324 EUR per liter, representing a daily increase of 3.72 percent.

Government officials have discussed potential interventions. While the Energy Minister suggested activating excise tax reductions if diesel prices exceed 2.20 EUR for five consecutive days, the Prime Minister has expressed concerns regarding the state budget, noting that a 12-cent discount per liter could cost the government 20 million EUR per month.

Rising costs are highlighting the economic gap between internal combustion engine vehicles and electric vehicles. For a standard trip of 1,500 kilometers per month, a diesel vehicle consuming 6L/100km would cost approximately 209 EUR in fuel, whereas an electric vehicle using 20 kWh/100km charged at home (at 0.25 EUR/kWh) would cost roughly 75 EUR, resulting in monthly savings of about 134 EUR.