The article highlights the recent surge in gasoline prices in Latvia as reported by the European Commission, noting that as of March 9th, the price of gasoline in Latvia was approximately 1.63 euros per liter. This price is slightly higher than in Lithuania, where gasoline was about 6 cents cheaper, and Estonia, where it was 4 cents cheaper. Additionally, the article points out that the price of diesel fuel was 1.79 euros per liter in Latvia, which is higher than the cheapest rates in Estonia but less than in Lithuania, where diesel exceeded 1.9 euros. This showcases a significant regional variance in fuel costs within the Baltic states.

Furthermore, the article elaborates that a substantial portion of gasoline prices is attributed to taxes, with around 55% of the 1.63 euro price consisting of excise taxes and value-added tax (VAT). Additionally, a levy for maintaining the national oil product reserves is included in the price. The cost of gasoline before taxes was reported to be roughly 73 cents per liter, indicating the heavy impact of taxation on overall fuel prices.

Lastly, the article raises a critical question regarding the objectivity of the recent price increase. It notes from the European Commission data that during the week, the price of gasoline rose from 66 to 73 cents per liter, accounting for a roughly 10% increase. Observations from international gasoline exchanges similarly show a steep rise in prices, indicating that this local price fluctuation may stem from broader market trends rather than isolated local factors.