LONDON

The diesel fuel price in Estonia has exceeded that of gasoline at petrol stations and is unlikely to come down before the Middle East conflict is resolved, media reports said Wednesday.

The price of a liter of diesel fuel at Estonian gas stations ranged between €1.91 ($2.20) and €1.93 ($2.22), while gasoline cost between €1.76 and €1.78, broadcaster ERR reported

By Tuesday, the diesel price fell below €1.90 and gasoline ranged between €1.71 and €1.73.

Diesel price previously exceeded gasoline again at the end of 2021 and 2022 when the Russia-Ukraine war began.

A significant volume of diesel fuel was exported through the Strait of Hormuz, which is now practically closed, said Alan Vaht, a member of the management board of Terminal, a major Estonian fuel retailer and station chain.

Another factor behind the price increase is a colder-than-usual winter, during which large amounts of heating oil are consumed in Europe, reducing diesel reserves, he said.

Vaht noted that diesel storage in the US was already below the five-year average even before the outbreak of war in Iran.

Tensions in the Middle East have escalated since the US and Israel launched a joint offensive against Iran on Feb. 28, which has killed more than 1,300 people so far, including then-Supreme Leader Ayatollah Ali Khamenei.

Iran has retaliated with drone and missile strikes targeting Israel, along with Jordan, Iraq,and Gulf countries, which it said host US military assets, causing casualties and damage to infrastructure while disrupting global markets and aviation.

The Strait of Hormuz has been at the center of global energy concerns since Iran’s Islamic Revolutionary Guard Corps announced its closure to most vessels in retaliation for the US-Israeli attacks.

Before the conflict, around 20 million barrels of oil passed through the strait daily. Its disruption has pushed oil prices higher.