Latvian fuel prices for Diesel, Petrol 95, and Petrol 98 have shown a consistent downward trend over the past seven days, reaching their lowest points today. Diesel has fallen by -0.031 EUR, Petrol 95 by -0.026 EUR, and Petrol 98 by -0.036 EUR. This local decline aligns with earlier global crude oil price drops observed at the beginning of July, as reported by various Latvian news outlets. However, the global oil market has experienced a significant and abrupt shift in the last 24-48 hours. Brent and WTI crude oil prices surged by over 6% on July 8th, driven by escalating geopolitical tensions, specifically US military strikes on Iran and concerns over near-term supply. Furthermore, reports indicate that a major Russian refinery was hit and paralyzed, adding to the tightening global supply outlook. Given that global crude oil price movements typically translate to Latvian retail prices within 1-2 weeks, the current falling prices in Latvia represent a temporary window of opportunity. The recent sharp increase in international crude prices, fueled by significant supply disruptions and geopolitical risks, strongly suggests that Latvian pump prices are likely to reverse their downward trend and begin to rise in the near future. Therefore, drivers are advised to take advantage of the current lower prices.