In an interview with Latvian Television's program 'Rīta Panorāma', Latvian Economy Minister Viktors Valainis stated that the country is not expecting a fuel deficit, as supply chains are operating reliably and are well-diversified. He reassured the public that there are no grounds for concern regarding potential disruptions in the fuel market. However, he noted that the current spike in fuel prices is disproportionately steep, highlighting the need for price adjustments to reflect a recent drop in global fuel prices.

Valainis expressed his desire to see this decrease mirrored in local retail price structures, suggesting that a reduction of at least 10 cents per liter should occur immediately. He pointedly remarked that fuel traders will be required to justify each increase in prices, suggesting that unjustified price hikes could be perceived as greed. The minister's comments come amid scrutiny over the actions of fuel retailers and their pricing strategies, amidst expectations of greater accountability in pricing.

Should the rise in fuel prices persist, Valainis indicated that the government is considering measures to reduce excise taxes on fuel as a means to alleviate the financial burden on consumers. This consideration reflects a proactive approach by the government to ensure fair pricing and protect consumers from unwarranted increases, stressing the importance of oversight on fuel trading activities that are under the scrutiny of regulatory authorities.