Lithuanian drivers hit by sudden fuel surge ahead of Easter

Lithuanian drivers are facing a sharp rise in fuel prices just ahead of Easter, LRT reports.

Within a 24-hour period, wholesale diesel prices surged from €1.977 to €2.149 per litre, an increase of 17 cents. Gasoline prices also rose, though more modestly, climbing 5 cents to €1.634 per litre.

The spike comes amid ongoing tensions in the Middle East and a blockade of the Strait of Hormuz. US President Donald Trump recently signaled on social media the possibility of additional strikes on Iranian infrastructure, further contributing to market uncertainty.

In response, the Lithuanian government has proposed temporarily reducing the excise tax on diesel fuel until June 15. Officials say the measure could bring prices down by approximately 6 cents per litre, including VAT, though the final decision rests with the Seimas.

Meanwhile, Lithuanian President Gitanas Nausėda has proposed imposing limits on fuel prices to curb the sharp increases driven by the ongoing conflict in the Middle East.

Nausėda urged the Seimas to consider a new bill that would regulate maximum fuel prices for consumers, alongside proposed amendments to the country’s Energy Law.

Under the new framework, the Minister of Energy would set and publish daily maximum fuel prices. The system could be activated through a government decree in cases of significant price fluctuations or changes in fuel tax rates.

“The proposed mechanism is aimed at achieving two key objectives,” Nausėda said. “First, to have a tool that ensures, if necessary, that the financial benefits from reduced indirect fuel taxes reach the end consumer. Second, to establish a system for setting maximum fuel prices that is compatible with a market economy.”

By Vafa Guliyeva