EU – Baltic States, Industry, Markets and Companies, Oil

"In all likelihood, a strike of the employees of one oil refinery in the region will not influence retail prices in Estonia, as there is competition also between refineries and there are many in our close proximity," Indrek Sassi, fuel pricing manager at Circle K Eesti AS, told.

"The strike may however make some of the fuel traders active on the Estonian retail market find a new cooperation partner for some time, but the possible higher cost price will probably come at the expense of the fuel retailer's margin, as the strong competition on the Estonian fuel retail market keeps prices at a favorable level for the consumer," Sassi said.

"We believe that the strike of Neste employees will not affect prices on the Estonian fuel market," Janne Laik, head of marketing at Olerex, told.

Employees of Finland's biggest oil company Nester are planning to go on a week long strike on June 26 as the Finnish government is planning to reduce its shareholding in the company from 50.1% to 33.4%.

Production at the company's Porvoo and Naantali plants will carry on as usual, but the supply of fuel will be stopped, the Finnish public broadcaster YLE reports. The strike is expected to end on July 3.