According to GlobalPetrolPrices.com Iceland has the third highest petrol prices in the world. According to the site, which provides analysis and compiles data on transportation fuels, the average price of a litre of gasoline in Iceland is 1.72 USD/1.65 EUR (6.51 USD per gallon). The highest prices in the world are found in Hong Kong, where the liter costs 1.91 USD/1.83 EUR (7.24 USD per gallon), followed by Norway, where the liter of gasoline costs 1.77 USD/1.70 EUR (6.71 USD per gallon).
The average price in the world is just 0.98 USD per liter.
Read more: Why is alcohol so expensive in Iceland? And what can you do to protect yourself against it?
Iceland has the highest diesel prices in Europe, 1.67 USD/1.59 EUR per litre (6.3 USD per gallon). Norway comes close second, with 1.65 USD/1.58 EUR per litre. More developed and richer nations tend to have higher gasoline prices, as do countries which don't produce oil. Norway, however, is a notable exception where gasoline prices are very high. The main reason in the variation in price is taxation, and in some countries government subsidies.
Most of the price of gasoline and diesel oil in Iceland is made up of taxes.
Read more: Iceland meets only 0.01% of it's electricity needs with fossil fuels, 99.99% from renewables
According to GlobalPetrolPrices.com Iceland has the third highest petrol prices in the world. According to the site, which provides analysis and compiles data on transportation fuels, the average price of a litre of gasoline in Iceland is 1.72 USD/1.65 EUR (6.51 USD per gallon). The highest prices in the world are found in Hong Kong, where the liter costs 1.91 USD/1.83 EUR (7.24 USD per gallon), followed by Norway, where the liter of gasoline costs 1.77 USD/1.70 EUR (6.71 USD per gallon).
The average price in the world is just 0.98 USD per liter.
Read more: Why is alcohol so expensive in Iceland? And what can you do to protect yourself against it?
Iceland has the highest diesel prices in Europe, 1.67 USD/1.59 EUR per litre (6.3 USD per gallon). Norway comes close second, with 1.65 USD/1.58 EUR per litre. More developed and richer nations tend to have higher gasoline prices, as do countries which don't produce oil. Norway, however, is a notable exception where gasoline prices are very high. The main reason in the variation in price is taxation, and in some countries government subsidies.
Most of the price of gasoline and diesel oil in Iceland is made up of taxes.
Read more: Iceland meets only 0.01% of it's electricity needs with fossil fuels, 99.99% from renewables
