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ID| Fuel Type | USD / Liter | ISK / Liter | vs World Avg |
|---|---|---|---|
| ⛽ Gasoline (Petrol) | $2.250 | kr 274 | +42.9% |
| 🚛 Diesel | $2.680 | kr 326 | +70.2% |
| 🔵 LPG / Autogas | N/A | — | |
| ⚡ Electric (kWh) | $0.206 | kr 25.10 | |
| ⚡ Electric Business (kWh) | $0.105 | kr 12.79 | |
| 🔥 Natural Gas (m³) | N/A | — | |
| 🔥 Natural Gas Business (m³) | N/A | — | |
| 💧 Kerosene | N/A | — | |
| 🌡 Heating Oil | N/A | — |
Gasoline Price in Iceland Today
At current prices, 40 litres in Iceland runs to about kr 10,964. In working time on an average salary: 5.4 minutes a litre, 3.6 hours a tankful.
Diesel Price in Iceland
Diesel in Iceland is priced at kr 326/L — 19.1% above the gasoline rate. The Europe norm from 44 markets is diesel 11.4% above gasoline, so wider here.
How Iceland Compares Globally
At kr 274/L — $2.250 a litre — petrol in Iceland runs 42.9% above the worldwide mean of $1.575. Ranked by pump price, Iceland is 17th highest of 133 countries and 12th highest of the 44 in Europe. Set against the Europe average the difference is 12.2% above. The nearest cheaper market in the region is Italy at 0.9% less; the nearest dearer is Portugal at 0.9% more.
Historical Price Trend
Petrol has grown 29.3% dearer in Iceland over 3 months, from $1.740 to $2.250 per litre. The 44 weekly readings on record span $1.730 at the bottom and $2.270 at the top, the high falling on 26 October 2026. Diesel, meanwhile, rose 41.1% over the period. Between its 28 June low and its 26 October high the price swung 31.2%. Measured from the first reading of 2026 the pump price is 13.0% higher. On the same timeline home electricity fell 1.4%, reaching kr 25.10 per kWh.
As of 2026-11-02, the retail price of gasoline in Iceland is $2.250 per liter, and diesel costs $2.680 per liter. Iceland’s gasoline price is 42.9% above the global average of $1.575 per liter. Electricity for EV charging costs $0.206 per kWh.
Iceland applies relatively high fuel taxes reflecting energy and environmental policy. These taxes add a substantial premium on top of crude oil and refinery costs, pushing prices above the regional average.
Based on an average monthly wage of $4,400 USD, a worker in Iceland needs approximately 5.4 minutes to afford one liter of gasoline — equivalent to 45.0% of a day's pay for a standard 40-liter fill-up.
Across Europe, 44 markets are covered: Azerbaijan is lowest at $0.676, Norway highest at $3.080, 355.6% apart.
Weekly updates draw on official state energy agencies alongside vetted international data sources. Local currency amounts (ISK / kr) update automatically with live exchange rates.
| Commodity | Market Price | Raw Cost | Retail Here | Gov't Factor |
|---|---|---|---|---|
| 🛢 Brent Crude | $110.36 /bbl | $0.814 /L | $2.250 | +176.4% |
| 🛢 WTI Crude | $101.09 /bbl | $0.756 /L | $2.250 | +197.6% |
| 🔥 Natural Gas | $2.90 /MMBtu | $0.128 /m³ | no data | — |
| ⚡ Lithium ETF | $59.81 /share | indirect | $0.206 | — |
| ☢ Uranium ETF | $33.73 /share | indirect | $0.206 | — |
How global commodity swings translated to pump prices here
| Commodity | Commodity Δ30D | Retail Δ30D | Pass-Through |
|---|---|---|---|
| 🛢 Brent Crude | +5.4% | +0% |
0%
|
| 🛢 WTI Crude | +10.1% | +0% |
0%
|
| 🔥 Natural Gas | -9.8% | — | — |