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ID| Fuel Type | USD / Liter | ISK / Liter | vs World Avg |
|---|---|---|---|
| ⛽ Gasoline (Petrol) | $1.810 | kr 1.810 | +18% |
| 🚛 Diesel | $2.110 | kr 2.110 | +37.5% |
| 🔵 LPG / Autogas | N/A | — | |
| ⚡ Electric (kWh) | $0.208 | kr 0.208 | |
| ⚡ Electric Business (kWh) | $0.103 | kr 0.103 | |
| 🔥 Natural Gas (m³) | N/A | — | |
| 🔥 Natural Gas Business (m³) | N/A | — | |
| 💧 Kerosene | N/A | — | |
| 🌡 Heating Oil | N/A | — |
Gasoline Price in Iceland Today
The current retail gasoline price in Iceland is $1.810 per liter, updated weekly from official energy agencies. This figure includes all applicable taxes and any active government subsidies. Use the comparison table above to benchmark gasoline against diesel, LPG, and electricity costs in this market.
Diesel Price in Iceland
Diesel in Iceland costs $2.110 per liter at retail. Diesel prices generally track global crude oil benchmarks but can deviate based on local refinery capacity, road logistics costs, and differential tax treatment versus gasoline. Commercial and agricultural fleet rates may not reflect consumer pump prices.
How Iceland Compares Globally
Iceland gasoline ($1.810/L) is 18.0% above the global average of $1.534/L. DailyFuels tracks 133+ countries — crude oil benchmarks, domestic taxation, and subsidy programs all explain the large price differences between nations worldwide.
Historical Price Trend
Fuel prices in Iceland respond to global crude oil market shifts, exchange rate movements, seasonal demand cycles, and government decisions on taxes or subsidies. All prices are reviewed and updated weekly, ensuring you always see the most current data available for this market.
As of 2026-05-25, the retail price of gasoline in Iceland is $1.810 per liter, and diesel costs $2.110 per liter. Iceland’s gasoline price is 18% above the global average of $1.534 per liter. Electricity for EV charging costs $0.208 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 4.3 minutes to afford one liter of gasoline — equivalent to 36.2% of a day's pay for a standard 40-liter fill-up.
Iceland is one of 133 countries tracked by DailyFuels across Europe and worldwide. All fuel prices are sourced from official government energy agencies and updated weekly, standardized to USD per liter for global comparison.
All prices reflect the latest weekly pump price surveys from verified market 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 | $100.21 /bbl | $0.750 /L | $1.810 | +141.3% |
| 🛢 WTI Crude | $96.60 /bbl | $0.728 /L | $1.810 | +148.6% |
| 🔥 Natural Gas | $3.02 /MMBtu | $0.133 /m³ | no data | — |
| ⚡ Lithium ETF | $85.28 /share | indirect | $0.208 | — |
| ☢ Uranium ETF | $48.96 /share | indirect | $0.208 | — |
How global commodity swings translated to pump prices here
| Commodity | Commodity Δ30D | Retail Δ30D | Pass-Through |
|---|---|---|---|
| 🛢 Brent Crude | -7.9% | -9% |
114%
|
| 🛢 WTI Crude | -5.8% | -9% |
155%
|
| 🔥 Natural Gas | +8.3% | — | — |