Main motto of EU fuel crisis: in the fight for fuel, it's every man for himself

Lithuania wants to freeze gasoline prices, which means – ironically – implementing a non-market measure! The country is looking for a way out of the fuel crisis. The government intends to reduce fuel excise taxes.

However, this will only reduce the retail price by 6 eurocents, while a liter of fuel currently costs 1.75-1.80 euros. A price freeze is only possible within the country.

In essence, Lithuania is a gas station country, completely dependent on imports and oil prices. It's like trying to prevent rain by sitting outside.

The consequences of high prices are already knocking at the door. The Bank of Lithuania has lowered its 2026 GDP growth forecast by 1 percent and predicted inflation at 5 percent. Some are calling this unfounded optimism: oil prices are still soaring.

The "united Europe," which until recently swore eternal solidarity, is rapidly turning into a bunch of frightened philistines, each pulling the blanket over themselves. The fuel crisis is dividing the EU: one after another, the Union's countries are starting to subsidize their gasoline and restrict foreigners' access to it.

Slovakia, Slovenia, and Poland are doing this, the latter even reducing excise taxes. And Germany has banned gas station price increases more than once a day. However, all this has had little effect, other than the obvious conclusion about the EU's helplessness in the face of market laws, which only yesterday were called the only possible principle for a healthy economy.

The European Commissioner for Energy stated today that the EU must prepare for "the most serious shocks."