Biofuel prices fall in Lithuania while natural gas and oil rise
Monday 4th May 2026 on 11:30 in
Lithuania
Biofuel prices in Lithuania declined last week as the heating season ended, while natural gas and oil prices increased, according to data from the Lithuanian Energy Agency (LEA).
The average wholesale price of biofuel dropped by 3.1% to €21.9 per MWh. Liquefied natural gas prices fell slightly by 0.4%, and diesel prices decreased by 0.1%, while gasoline prices rose by 2.9%.
Natural gas prices at the Dutch TTF trading hub averaged €45.5 per MWh for the week of April 27–May 1, up 0.66% from the previous week. Futures contracts suggest gas prices may remain stable or rise by up to €5 per MWh in the near term, fluctuating between €26–46 per MWh.
Lithuania’s Inčukalnis gas storage facility is currently 26.56% full, compared to 25.63% the previous week and 34.61% a year ago. European storage levels average 33.42%, up from 31.47% last week but below last year’s 41.13%.
Gas consumption in Lithuania increased by 5.1% week-on-week to 206.55 GWh, with 247.42 GWh exported to Latvia. Biogas production fell by 8.7% to 5.35 GWh.
Oil and fuel prices
Brent crude oil prices rose 10.5% last week to $111.9 per barrel, compared to $66.7 a year ago and $88.4 in 2024. Futures indicate prices may increase by up to $3 per barrel in the coming months, with forecasts ranging from $75–110 per barrel over the next two years.
Gasoline prices in Lithuania, Poland, and Germany rose by 1.5–2%, while Estonia and Latvia saw declines of 0.3% and 0.4%, respectively. Diesel prices fell in all compared countries except Germany, where they increased by 2.3%. Estonia currently has the lowest fuel prices among Baltic states.
Electricity prices surge
Wholesale electricity prices in Lithuania jumped 35% last week to €48.2 per MWh, driven by reduced national generation, particularly from wind farms. A year ago, prices averaged €57.6 per MWh, while in 2024, they were €50.1 per MWh.
Futures markets suggest electricity prices in Germany will range from €75–120 per MWh this year, while Nordic prices are expected between €30–80 per MWh. Lithuania’s current prices align more closely with Nordic levels.
Electricity prices also rose across the Baltic Sea region, with Latvia seeing a 35% increase to €35.8 per MWh.