Estonian Diesel Prices Surge Past €2 Per Liter Amid Global Oil Crisis

Diesel prices in Estonia have topped €2 per liter for the first time since March 20, as global oil markets continue to grapple with soaring prices. The surge is attributed to tensions between the US and Iran, which has disrupted Persian Gulf supplies and pushed crude oil prices higher.

The price of diesel at Circle K stations in Estonia rose above €2 per liter on Wednesday, while gasoline prices also increased, reaching €1.999 for a liter of 95-octane fuel. This marks the second time this year that diesel prices have exceeded €2 per liter, with the previous instance occurring in March following Russia's invasion of Ukraine.

The conflict between the US and Iran has raised concerns about the safety of oil supplies through the Strait of Hormuz, which is critical for global oil consumption. As a result, crude oil prices continue to rise, with Brent crude futures reaching over $95 per barrel on Wednesday.