In a recent statement, Lithuania's Finance Minister emphasized that the government is not currently considering any reductions in fuel excise taxes. He indicated that commitments related to the Recovery and Resilience Facility (RRF) restrict their ability to adjust such taxes. Even if the government were to consider it, the minister noted that there would be little room for significant adjustments given the current economic commitments.

The Minister further elaborated that excise taxes may not be a potent tool for influencing fuel prices directly. However, he assured that the ministry is preparing various scenarios to respond to potential future developments that could either further escalate the situation of rising prices or lead to a de-escalation. This proactive approach is intended to equip the government with strategies for managing the economic pressures tied to fuel costs.

Recent statistics from the Lithuanian Energy Agency (LEA) reveal that the average price of Brent crude oil has surged to $96.5 per barrel, an increase of 15.5% from the previous week. This spike in oil prices is primarily attributed to disturbances in Iran and a halt in tanker movements through the Strait of Hormuz, which has directly impacted fuel prices in Lithuania, resulting in a 7.2% rise in gasoline prices and a 15.6% rise in diesel prices over the past week.