On Monday, fuel prices rose at Estonian gas stations. The price of crude oil exceeded $115 per barrel. This is the highest price since 2022.
At Circle K, people paid €1.759 for 95 gasoline. At Olerex, the price was €1.799. Last Friday, gasoline was cheaper—€1.554 to €1.649.
The price of diesel at Circle K was €1.879 and at Olerex €1.899. Last Friday, diesel was cheaper—€1.654 to €1.729.
Prices are rising because of the war in the Middle East. There is little oil transport in the Strait of Hormuz. Saudi Arabia is shipping oil through the Red Sea. This drives prices up.
Some experts believe the price of crude oil could rise to $150 per barrel. Fuel prices also depend on other factors—the operation of refineries, transportation, and taxes.
There will be no fuel shortage. Rumors are spreading on social media that fuel might run out. However, experts confirm this will not happen. The International Energy Agency is releasing 400 million barrels of fuel to lower prices.