Diesel price of 27 kroner per liter reported in Tromsø – experts expect further price increase

Fuel pricePhoto: Terje Pedersen / NTB
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On Wednesday afternoon, diesel prices were above NOK 27 per liter in Tromsø – the highest price ever recorded. Experts expect prices to increase further.

The newspaper iTromsø reported that the price of diesel was over NOK 27 a liter on Wednesday afternoon. The reason for the price increase is the restrictions introduced in the export of crude oil from Russia to Europe.

“The international prices are going up,” Knut Hilmar Hansen, communications manager in Circle K, told the newspaper.

TV 2 has spoken with professor Øystein Foros at the Norwegian School of Management, who has studied diesel and petrol prices for almost 20 years. He reckons that the price of petrol will increase even more.

Prices going up

“The price of petrol is determined by the price of oil. If the oil price goes up more now, then we can get petrol prices of NOK 30 per liter,” Foros told the channel.

Nerja Macic, chief economist at the Prognosesenteret, also believes that fuel prices will increase in the future. The reason is that demand is higher than supply.

“The high oil and gas prices will probably last for a while longer. It is not inconceivable that we see fuel prices that are higher than the NOK 24 we have today,” she told TV 2.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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