Record high petrol prices in Norway

Norway TodayNeed disel to the car.Photo Norway Today Media

The petrol price took a hike just before the weekend and is now at a record high in Norway. Analysts believe the price will continue to rise.

 

The guide price of petrol from the largest chain, Circle K, is now 16 kroner and 70 øre. The price has thus increased by about a krone in six months, according to NRK.

Norway now has the fourth most expensive gasoline price in the world after Sierra Leone, Hong Kong and Iceland.

According to communications director Pål Heldaas in Circle K, the cause of the high oil prices is compounded. There are international conditions that push prices up.

“There are several simultaneous reasons why prices increase, such as high dollar prices and high oil prices. There is also international demand for fuel now, says Heldaas.

The price per oil barrel is currently about 80 dollars a barrel. Oil analyst Torbjørn Kjus in DNB Markets believes the price will rise to $ 100 barrel.

“I think there will be an increase in prices throughout the autumn. Especially if Libya continues to struggle. Then we can get prices for the barrel up to 100 dollars. If Libya returns, I think we will get prices between 80-90 dollars,” says Kjus.

With a price of $100 a barrel, the price of petrol will follow up to a level well above the 17 kroner a liter.

 

© NTB scanpix / #Norway Today

1 Comment on "Record high petrol prices in Norway"

  1. Berhane Haile | 8. July 2018 at 18:22 | Reply

    I am not sure about prices of petrol in Norway; because in Norway not the market but the policy decides about prices. When the price of petrol was more than 155 USD per barrel, the price of petrol was less than 14 Kroner for litre. So, we can’t say the price will be lower with the decrease of oil per barrel. Norway has exports oil but because of the welfare policy with environmental concerns of pollution, petrol price will always be high!! I support the policy anyhow.

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