Sweden’s leading fuel companies on Tuesday raised their guideline price – the recommended price at manned fuel stations – of unleaded petrol (gasoline) to 18.09 kronor per litre ($2.10).
That’s an increase of 0.20 kronor in just one day.
In two days, the price of petrol has gone up by 0.35 kronor per litre in Sweden, reports Swedish news agency TT.
The price of a litre of diesel also got more expensive on Tuesday, a 0.15 kronor increase to 19.37 kronor – the same as last week’s record for diesel.
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The reason for the hikes is a global rise in market prices for oil, currently at a three-year high. Diesel is particularly affected because it contains more biofuels, due to policies aimed at protecting the environment, and these are more expensive than fossil fuels.
A barrel of North Sea oil, Brent crude, today costs around 86 dollars.
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Brent Crude was over $100/barrel from 2010-2013. So oily prices are still far from historic highs. There is more to this story. Either there are massive profits being made somewhere in the supply chain, there is shortage of refining capacity (doubtful), or taxes are playing a much larger role, percentage wise, than in previous years.
It would be great if the Local could do an interview with someone in government that looks at what Sweden’s medium and long term goals are for fuel taxes. This would help to enable more rational decisions regarding new car purchases in regards to fuel source.
Also would be interested in long term energy strategy, as we face record high electricity prices in southern Sweden at the same time that we are actively working to bring energy-sucking minimal job creating data centers into places like Staffanstorp, further exasperating the situation.
Over 100 USD per barrel 🙂