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These days refuelers may notice that in some gas stations the price of a liter of 95 grade gasoline exceeded 1.41 euros, although a couple of weeks ago it was possible to refuel for 1.3 euros, and at the beginning of the year for 1.2 euros. This information is also provided by the kuro-kainos.lt portal.
Meanwhile, the price of diesel at some gas stations jumped to 1.32 euros – in September it averaged 1.28 euros, and at the beginning of the year it was 1.1 euros.
Jozita’s manager: not fun for everyone
Jonas Jokubauskis, director of the Jozita gas station network, said that fuel prices are already beginning to reach all-time highs and have been compared to the years before the crisis.
“It’s reminiscent of pre-crisis times. I think gasoline and diesel prices have already reached record levels. Today it has already stabilized, but in the last 10 days the price has risen 10 cents, both gasoline like diesel. And what will happen tomorrow is hard to say ” 15 minutes commented.
However, J. Jokubauskis, like many experts, believes that the reasons for the increase in prices should be found in the general trends: if the price of oil rises, so will fuel.
“It is abnormal for everyone (price increase – aut. Past). It is not pleasant for everyone: there is nothing good for both merchants and consumers.” If you heated last year and paid 35 cents per liter of furnace fuel, today you pay 75 cents ”, he compared.
Eriko Ovcharenko / 15min nuotr./Degalinė „Jozita“
It is also supported by Arūnas Vizickas, founder of the price comparison portal Pricer.lt. According to him, the retail price of gasoline is already at a record level.
“More than 1.4 euros, at least in our observation history, is already a record number, and we have been monitoring it since the beginning of 2017.” 15 minutes he claimed.
E.Cicėnas: the highest of the last 3 years
Emilis Cicėnas, director of the Lithuanian Association of Petroleum Trading Companies, also states that the price of fuel is the highest in the last three years.
“The reason is simple. You see, what is happening in the energy markets, fuel prices are directly related to the price of oil on the stock market, which is at a three-year high. Brent crude oil is forecast to hit $ 85 a barrel on the stock exchanges. The last time such prices were three years ago. Of course, this is reflected directly and in the final price of the product, ”he said.
Photo from personal archive / Emilis Cicėnas
E. Cicėnas believes that if the price of crude oil increases or excise duties on diesel increase, the price of fuel will continue to rise.
“Unambiguous because it is an integral part of the cost”, 15 minutes speak.
Cheapest fuel where most gas stations are located.
According to A.Vizickas, oil prices started to rise after the recovery of the market and consumption. However, in his opinion, another reason may be the desire of the gas station networks themselves to make up for losses and earn more.
“This feature is best demonstrated by the price difference between the lower priced gas stations, most of the time Jozita and Skulas. They play with a much smaller margin than the big chains, such as Viada, Circle K and Orlen Lietuva from time to time. from time to time. Some work with a small margin, like 5 cents, others try to earn 15 percent, “he said.
According to A.Vizickas, in places where there are more gas stations next to each other, fuel prices can be lower. And it’s about competition.
“For example, Jozita in Kaunas has dominant locations like Jonava Street, some more, which consequently dictates that everyone else in that entire area sells cheaper. And if the choice in the city or district is not great and the prices are more or less equal, then they tend to be higher ”, assured the interlocutor.
Photo from personal archive / Arūnas Vizickas
To save money, he recommends refueling where there is more than one gas station around.
“For example, in Vilnius, one of the hottest spots is Naujoji Vilnia, where Jozita is located, or Kalvarijų street, where Alauša is located, next to Baltic Petroleum. Consequently, the nearby gas station sells cheaper. For example , Circle K on Kareivių street is one of the cheapest in Vilnius, and there are even better prices available when driving down Savanorių Ave. Towards Kaunas, there is also a bit of competition there, ”said the founder of Pricer.lt.
On 15 minutes appealed to the reader, who was surprised by the rapid price changes. For example, according to him, the price of diesel at the gas station on Rinktinės street in the capital was 1.17 euros, and at noon the display showed 1.19 euros. According to A.Vizickas, this can be explained by the fact that gas stations perform “intelligence” on competitors.
“If a person saw a price in the morning and another in the afternoon, possibly during that time market information was processed and a decision was made to raise the price,” he said.
Photo by Sigismund Gedvila / 15min / Fuel prices at Vilnius gas stations
A.Izgorodin: a sign of inflation
According to economist Alexander Izgorodin, one of the main reasons for the rapid increase in fuel prices is the lack of gas.
“Due to severe gas shortages in Europe and Asia, electricity producers are switching to burning oil to produce electricity. And it was a situation that in a very short time the demand for oil has grown very strongly, and the supply is growing in a limited way, because it is regulated by OPEC + ”, he stated.
Izgorodin is convinced that it would be difficult to expect the price of fuel to drop in the near future. Despite the drop in oil prices seen in recent days, this should not continue for long, according to the economist.
“Yesterday, the drop in oil and gas prices was quite large, because Putin said that Russia would offer measures to regulate the gas market. But looking at the communication from the Russian side, it is the forks in the water. There were no proposals specific there, and they will be priced for Europe, because there was a line between them that said Nord Stream 2 needed to be certified. Yes, Russia has said it can increase gas supply to Europe, but it’s actually a theory so far, there are no concrete agreements. “We may see a drop in gas and oil prices for a few days, and then if no concrete action is taken, they will rise again,” he said.
Valdo Kopūstas / 15min photo / Aleksandras Izgorodinas, SME finance economist
A. Izgorodin agrees with J. Jokubauskis in the statement that the increase in prices is similar to that of the pre-crisis times.
“It just came to our notice then. I agree that we are getting closer to that level, but as far as diesel is concerned, its price is also affected by green standards. Looking at the last few years, prices are at or close to. from all-time highs, “he said.
The economist points out that such an increase in fuel prices is not a good sign of inflation. In Lithuania, it reached 6.3 percent in September. Furthermore, Lithuania is one of the leading countries in the European Union in terms of amount spent on fuels and lubricants.
“The cost of fuel and lubricants represents 5.3 percent. According to this indicator, we are ranked fifth in the entire structure of consumer spending of the Lithuanian population. This means that the growth of oil prices has a statistically effect higher in the inflation rate in Lithuania than in the average of the whole European Union ”, is convinced A. Izgorodin.
Fuel prices rose in the three Baltic states
Fuel prices increased in the three Baltic states in September. Gasoline and diesel from the most popular brands cost the least in Lithuania, according to data compiled by the BNS agency.
The average price of a liter of gasoline from 95 brands at Circle K gas stations in Vilnius increased by 2.5% in September. at 1,359 euros, in Riga – 4.2 percent. at 1,384 euros, in Tallinn – 2.7 percent. up to 1,499 euros.
The price of gasoline for 98 brands was € 1,458, € 1,434 and € 1,549 per liter, respectively.
A liter of diesel in Vilnius rose in price by an average of 6.9 percent in September. at 1,279 euros, in Riga – 4.6 percent. at 1,284 euros, in Tallinn – 5.7 percent. up to EUR 1,299.
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