Lithuanian Economic and Innovation Minister Edvinas Grikšas previously suggested a temporary reduction in excise taxes on fuel; however, Finance Minister K. Vaitiekūnas stated that such measures will not be taken at this time. Vaitiekūnas believes that reducing excise taxes is a drastic step and not feasible since increasing oil prices could continue to impact the economic situation significantly. He stressed that tax policy measures are unlikely to drastically alter the situation if prices keep rising.

During a press briefing, Vaitiekūnas emphasized that while increased excise taxes mean higher government revenue, such taxes also translate to higher costs for consumers. The government's financial resources should be utilized in a manner that benefits the broader public. This balancing act is crucial as officials navigate the complexities of economic management while working to mitigate the impacts of increasing prices on citizens.

Currently, Vaitiekūnas and Prime Minister Inga Ruginiene are evaluating the actions of other countries regarding fuel pricing measures. By observing international responses, they aim to inform their approach without rushing into premature decisions. This strategy highlights Lithuania's cautious stance towards economic policy amidst volatility in global oil markets, advocating for careful consideration of the potential effects on both government revenue and public welfare.