Even if the Strait of Hormuz reopens soon, global oil prices will not return to normal for a long time, says Alan Vaht, a member of the management board of Terminal, Estonia's oldest fuel seller.

The Iran conflict has sparked an unprecedented fuel market crisis, with gasoline prices unlikely to drop for three to four months, Terminal board member Alan Vaht said.

Alan Vaht argues that the fuel market is in significant disarray, and current prices at the pump do not accurately reflect the true extent of this disruption.

Alan Vaht, a terminal board member, suggested that the Competition Authority's conclusion that fuel costs more in Estonia than other countries might be based on incorrect data. He also disagreed with Alexela's prediction of a €2 per liter fuel price.