During a government session on Wednesday, a minister addressed the current market conditions concerning crude oil. He stated that while the recent increase in the oil price is significant, the situation is being carefully monitored and analyzed by authorities. The minister indicated that the introduction of temporary excise taxes is not currently being considered.
However, he confirmed that such measures would be evaluated if deemed necessary in the future. Specifically, the minister noted that a key indicator signaling the potential need for additional measures, such as a hypothetical tax, would be when the international oil price surpasses $100 per barrel. Supporting context was provided by recent domestic fuel cost data.
According to figures from the Lithuanian Energy Agency (LEA), the average retail price for gasoline at gas stations increased by 5.7% on Tuesday. Diesel prices saw a rise of 4.7%, with local diesel prices recorded between 1.73 and 2.09 euros per liter. These figures reflect the current upward trend in the fuel market.
The government’s statement emphasizes a cautious approach to fiscal intervention, tying potential tax adjustments directly to sustained high levels in the global oil price. The focus remains on monitoring the volatility of the oil price relative to established economic thresholds before implementing any new levies.
Topics: #minister #oil #price
