Latvia

Latvia is at a moderate risk level, entirely dependent on oil imports, but benefits from 80 days of gasoline reserves and strategic energy infrastructure. The global oil price surge to $106.23/bbl translates to high domestic gasoline prices of $1.68/L and a 40% increase in fertilizer costs, impacting both transportation and agriculture. Resilience is significantly bolstered by the Inčukalns gas storage facility, which provides a crucial buffer for natural gas supplies, indirectly easing pressure on other energy sources. The outlook indicates that while high prices will persist, Latvia's energy diversification and reserves should prevent critical fuel shortages.