Heiti Hääl, owner of Alexela Group, announced on the ETV program "Impulss" that fuel prices at Estonian petrol stations are expected to surpass two euros this Thursday. Hääl emphasized that this price hike is significant and cautioned consumers that if the current international conflicts, particularly in the Hormuz Strait, do not settle soon, even greater price increases may follow. He discussed the precarious nature of fuel pricing in response to geopolitical tensions affecting supply chains.

Furthermore, Hääl provided a detailed analysis of the global oil market, indicating that about 20% of the world's oil consumption is derived from the Hormuz Strait. With an estimated global oil consumption of 100 million barrels per day, the recent decision to release 400 million barrels from reserves only addresses a shortfall of about 20 million barrels for 20 days. If the conflict continues beyond this period, the scarcity of sufficient oil supplies could exacerbate fuel prices further, likely leading to continued economic strain.

Hääl's insights reflect a broader concern regarding energy security in Europe, alongside the ongoing impacts of the war and associated sanctions on oil supply. This situation highlights the critical intersection of energy policy and international relations, emphasizing the potential for increased volatility in fuel prices that directly affects consumers and the economy at large in Estonia as well as beyond.