Lithuania: Fuel Price Control Plan Not Activated Amid Stable Market

Lithuania's Finance Minister has indicated that the country will not activate its fuel price control plan at this time, citing the current market conditions. The minister stated that the fuel price situation in Lithuania is not dramatic and does not provide grounds for implementing the prepared measures.

The contingency plan includes a set of fiscal and other interventions designed to manage fuel prices. These measures are set to be triggered only under specific, severe market conditions. A primary condition is that the price of oil must exceed $100 per barrel and remain at that level for at least five consecutive days.

An alternative trigger for the plan's activation would be a significant rise in retail fuel prices. Specifically, if the cost of gasoline or diesel reaches the range of 2.2 to 3 euros per liter, the plan would come into effect. The main fiscal measure within the plan involves reducing the special excise tax on fuels.

However, based on current oil and fuel prices, the minister concluded that there is no justification to initiate these interventions. The decision reflects a cautious approach, waiting for more extreme market fluctuations before deploying the planned economic measures.