Finland: Gasoline prices fell last week after a slight rise

Gasoline the price fell slightly last week after a long rise, according to Statistics Finland’s monitoring. Last week, the price of 95-octane petrol averaged € 2.55 per liter, compared with an average of two cents more in the previous week. The price of 98-octane gasoline also fell by two cents.

Instead, the price of a liter of diesel rose to EUR 2.49 last week from EUR 2.44 in the previous week.

At the beginning of April, the price of 95-octane petrol was EUR 2.18 per liter and that of diesel EUR 2.26.

Rising fuel prices have played a major role in the overall rise in consumer prices this year. Based on inflation figures for May, prices in traffic rose by more than 14 per cent year-on-year, compared with a year ago.

Russian the attack on Ukraine has raised the price of crude oil as Western countries seek to minimize the use of Russian oil. Russia has found it more difficult to trade its oil, and the price of Brent in the North Sea has risen sharply.

The weakening of the euro against the dollar will also raise the price of petrol, as crude oil and petroleum products are priced in dollars.

In Finland, it has been decided to temporarily reduce the obligation to distribute fuels, ie the share of renewables in the fuel sold. This should lower the price of diesel in particular.