The FINANCIAL — If this autumn the United States dollar becomes stronger, as it is being forecasted, fuel prices globally could go down, Director of Lukoil Baltija Haims Kogans said in an interview in the newspaper Vesti Segodna.
However, Kogans added that it is hard to make precise predictions about fuel price as "God only knows" what changes will take place.
According to Latvian Cource newspaper in anticipation of the global fuel price drop, Lukoil has lowered its fuel prices in Latvia and some of the major fuel traders have followed this decision. "From our side it was a good will gesture, however it also has psychological meaning – our intention was to show that the situation is not all bad, it is still possible that prices can go down," Kogans said.
In talking about the future prospects of bio fuel, Kogans expressed his opinion that in the nearest ten years time it will not gain popularity in Latvia. At the present moment it is readily available, however, people do not buy it. Kogans also believes that bio fuel is not suited for Latvia's climate conditions and some experts even believe that the fuel could damage vehicles.
Therefore Kogans, in the given conditions of global food crisis, suggests the resources, used for the production of bio fuel to be shifted to lessening the hunger.
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