Lithuania Considers Fuel Tax Cuts Amid Rising Oil Prices and Pipeline Disruption

Lithuania's fuel prices have skyrocketed to over €2 per liter for diesel since August, with gasoline prices also on the rise. The government is preparing measures to alleviate the burden on households and businesses.

Energy Minister Lukas Savickas suggested that a sustained increase in diesel prices could trigger a reduction in fuel taxes. He mentioned an average price of €2.20 for at least five consecutive days as a possible reference point.

The closure of a major oil pipeline in Saudi Arabia due to an attack by Yemen's Houthi rebels has contributed to the surge in global oil prices, which have exceeded $110 per barrel.