Highest fuel prices so far in 2019

Petrol Fuel PricesFill her up! Photo: Anders Lie Brenna / enerWE

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Highest fuel prices so far in 2019

If more and more toll stations popping up like toadstools across Norway is not enough, fuel prices are on the rise. The pump price of petrol rose to NOK 15.06 per litre in February, while diesel clocked in at 14.85. Newer figures (March) are not yet available.


Petrol rose to NOK 15.06 per litre in February, while diesel clocked in at 14.85. Using today’s exchange rate this equates to $1.77 and $1.75, respectively. In Euros, it is – curiously enough – simply a matter of dividing by 10!

At the same time last year, the petrol price was NOK 0.17 lower and the diesel price NOK 0.39 higher. This appears from the latest available overview from Statistics Norway (SSB).

Taxes amount to 62 per cent of the petrol price and 53 per cent for diesel.

The gross prices of petrol and diesel have increased more than the fees have in recent years.

The price difference between petrol and diesel is now NOK 0.21. That totals NOK 2,520 based on an average mileage of 12,000 kilometres per annum.

The price has increased over the past three months. The average price is NOK 14.98 for petrol and 14.68 for diesel this year.

 


 

Seasonal

223 million litres of diesel and 72 million litres of petrol were sold in February. Fuel is seasonal, and less was sold than in January. Three sales days less, naturally, also plays a role.

The grand total for January and February is 148 million litres of Petrol and 462 million litres diesel. The general trend is that diesel sales increases while petrol sales drop gradually.

The Norwegian state revenue for fuel sales was NOK 0.7 billion for petrol and NOK 1.8 billion for diesel in February. This is made up by road tax, CO2 tax and last, but far from least, VAT. The tax on road use is NOK 1.42 higher for petrol than diesel. Diesel sales are, quite simply, much higher.

The CO2 tax is NOK 1.16 per litre and is equal for both types of fuel, at 7.7 per cent. Thus, if the excise taxes were to be removed, retaining the VAT, petrol would have cost NOK 8.73 per litre.

 

This is based on an auto-generated article by NTB and enerWE, based on data from SSB – Human processing by Norway Today.


© EnerWe / #Norway Today


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