New high price record for petrol in Norway

Cirkle-K Petrol station priceA Cirkle-K petrol station. Photo: Cirkle-K

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Petrol in Norway is now more expensive than ever before. Circle K set the record price on Thursday at NOK 17.24. Oil prices are also rising sharply.

Petrol has never been so expensive before in this country.

‘’Strong increases in the purchase price over the past few weeks are sending indicative petrol prices to a new record level today. It is 10 øre above the old price record from October the 9th last year’’ said communications manager, Knut Hilmar Hansen of Circle K to E24 news on Thursday morning.

The diesel price is also increasing, but NOK 15.99 is still 50 øre below the price peak from November last year.

Rising oil prices are one of the reasons for the petrol price record. On Thursday morning Norwegian time, a barrel of North Sea oil was sold for over $75 a barrel. It is the first time since the end of October last year that the oil price has been so high.

US sanctions against oil-producing countries such as Venezuela and Iran, turmoil in Libya, and the production cuts of the Opec countries
are raising prices.

Oil prices have now risen 38.69% since New Year. Wednesday’s stock for oil on the US stock exchange showed an increase of 5.5 million barrels from last week and was thus considerably more than analysts had expected (1.3 million barrels).

Thus, the price of a barrel of American light oil also rose slightly on Thursday morning and a barrel was sold for close to $66 a barrel.

© NTB Scanpix / #Norway Today

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