New price record: Norway now has the third highest petrol price in the world

The petrol price has risen all summer and the new record was set Friday with a leading literary price of 17.02 kronor.

After this last increase, Norway has the third highest petrol price in the world, after Iceland and Hong Kong, according to NRK.

Portfolio manager Torbjørn Kjus in Vistin Trading explains that the main reason is that the Norwegian krone is now very weak compared to the US dollar. The heat of this summer may also have had an effect on the production of gasoline. However, he does not think that the price influences consumption to a large extent.

"There is no particular price elasticity in Norway: people consume about the same amount of gas as it costs 12 or 17 crowns, because our disposable income is high, he says.

Never before has the petrol been so expensive in Norway

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