Lithuanian government sees no need for emergency action despite diesel price topping €2
Lithuania’s finance minister says the fuel market is not in a critical state, even though average diesel prices have risen above €2 per litre, and relief would only be considered if crude stayed above $100 for several days.
Lithuania’s fuel market is not in a severe enough situation to warrant emergency government intervention, despite average diesel prices rising above €2 per litre, Finance Minister Taurimas Valys said on Wednesday.
Valys told reporters that the government would consider introducing relief measures only if crude oil prices remained above $100 per barrel for several consecutive days. On Tuesday, Brent crude was trading at about $79.36 per barrel.
“We have certainly not reached any critical threshold now,” the minister said, adding that given recent fluctuations, intervention is not always necessary. He emphasized that the government does not currently see a dramatic situation.
The minister noted that the government has refined a range of possible responses, including tax and non-tax measures, but there is currently no justification for implementing them. One option under consideration is a temporary reduction in fuel excise duties.
According to the Lithuanian Energy Agency, the average price of diesel in the country has reached €2.027 per litre, while gasoline averages €1.778 per litre.
Prime Minister Mindaugas Sinkevičius has previously said the government would act to cushion the impact on consumers if elevated fuel prices persist for a prolonged period. Energy Minister Lukas Savickas has also said temporary price management measures could be considered if fuel prices diverge significantly from European or regional trends for an extended period.
Lithuania last introduced temporary fuel tax relief following the outbreak of the Middle East conflict in mid-April, when the previous government led by Inga Ruginienė cut diesel excise duty by 6 cents per litre for two months.
