The Latvian fuel market is currently experiencing a period of relative stability over the last three days for diesel and minor increases for petrol. However, this calm is deceptive. Recent reports indicate that Latvian petrol prices increased by 4.4% and diesel by 1.2% last week, and public sentiment is already concerned about rising costs, with Saeima even considering excise duty reductions. Globally, the situation is highly volatile and points to significant upward pressure on prices. Brent crude oil has surged dramatically, hitting $140 per barrel for the first time since 2008, largely due to escalating tensions related to the Iran conflict and potential disruptions in the Strait of Hormuz. WTI crude also topped $112-$120. European drivers are already "choking on rising diesel prices" directly attributed to the Iran conflict, with EU fuel prices continuing to climb as supply is squeezed. Given that global crude price movements typically translate into Latvian retail prices within one to two weeks, the current stability in Latvia is unlikely to hold. The massive surge in crude oil prices, coupled with rising European retail prices, strongly suggests that Latvian fuel prices, especially for diesel and petrol, are poised for substantial increases in the near future. Therefore, filling up now is advisable to pre-empt these anticipated hikes.