Record high petrol prices

Norway TodayNeed disel to the car.Photo Norway Today Media

For the first time, the guide price for Circle K is now over 17 kroner.It is a new record.

 

The petrol price has risen throughout the summer, and new record was set on Friday with a guiding price of 17.02 kroner.

After this last increase, Norway has the third highest petrol price in the world,after Iceland and Hong Kong according to NRK news.
Portfolio Manager,Torbjørn Kjus of Vistin Trading explained that the main reason is that the Norwegian krone is very weak compared with the US dollar now.The heat this summer may also have had an effect on the production of petrol. He does not think, however,that the price influences consumption to a particularly large extent.

“There is no particular price elasticity in Norway. People consume about as much petrol if it costs 12 or 17 kroner. This is because our disposable income is high,’’ he said.

 

© NTB scanpix / #Norway Today

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