Fuel prices in Latvia rose in the first quarter of 2026 due to objective external circumstances, the Competition Council (KP) concluded after analysing information provided by market participants, purchase prices, and international market trends in its initial investigation.
As a result of the investigation, the KP concluded that the increase in fuel prices in the first quarter of 2026 was determined by objective external circumstances – the geopolitical situation and the associated sharp rise in petroleum product prices on international markets, which directly affected fuel purchase prices. The KP found no evidence of anti-competitive practices in the retail fuel market.
In the first quarter of 2026, the most significant increase was observed in the purchase price component: approximately 37% for gasoline and approximately 71% for diesel fuel, the KP noted.
At the same time, the KP concluded that price dynamics in Latvia do not differ significantly from those in other Baltic countries and the European Union, which points to the influence of common external factors.
The KP will continue to monitor this market. The KP will also monitor the actions of fuel retailers regarding the reduction in the excise tax on diesel fuel and its pass-through to final prices, publishing its findings on the KP website.
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