Danish fuel prices at highest-ever level

Danish fuel prices at highest-ever level
The price of petrol in Denmark recently reached a record high, according to newly-released figures.

Filling your car up with fuel in Denmark is now more expensive than ever before.

The consumer price for petrol was last Thursday set at 13.99 kroner per litre, beating the previous all-time record from 2012.

The numbers were published by Drivkraft Danmark and reported by financial media Finans.

Motorists who drive diesel cars are also paying more than ever before, with diesel prices also having recently broken records.

Demand for oil is a key factor in the rocketing prices, an analyst said in comments given to Finans.

“Reopening [after coronavirus restrictions, ed.] and towering economic growth have send the demand for oil soaring. That has coincided with oil producing companies hesitating to increase production and there is therefore a cocktail pressing the price of oil up markedly,” Sydbank senior economist Søren Kristensen said.

“Danish consumers are now also feeling the effects of this. Especially those who refuel their cars with petrol or diesel,” Kristensen told Finans in a written comment.

High prices are expected to persist for the time being, despite a small decrease in the price of petrol at the end of last week, Finans writes.

Prices at Circle K petrol stations reached 14.09 kroner per litre on Tuesday morning, the highest since the company has kept records of prices.

Although prices measured in kroner are the highest recorded, inflation-corrected prices show that consumers in September 1982 paid the equivalent of 15.68 kroner per litre in modern terms, according to the Drivkraft Danmark figures.

High prices for petrol and diesel follow expensive energy bills and alarms over future price hikes at supermarkets in hitting pockets of consumers in Denmark in late 2021.

READ ALSO: Why customers can expect to pay more at Danish supermarkets


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