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ID| Fuel Type | USD / Liter | ISK / Liter | vs World Avg |
|---|---|---|---|
| ⛽ Gasoline (Petrol) | $1.820 | kr 220 | +18.8% |
| 🚛 Diesel | $2.060 | kr 249 | +34.5% |
| 🔵 LPG / Autogas | N/A | — | |
| ⚡ Electric (kWh) | $0.216 | kr 26.12 | |
| ⚡ Electric Business (kWh) | $0.106 | kr 12.82 | |
| 🔥 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 8,803. In working time on an average salary: 4.4 minutes a litre, 2.9 hours a tankful.
Diesel Price in Iceland
Diesel in Iceland is priced at kr 249/L — 13.2% above the gasoline rate. The Europe norm from 44 markets is diesel 9.1% above gasoline, so wider here.
How Iceland Compares Globally
At kr 220/L — $1.820 a litre — petrol in Iceland runs 18.8% above the worldwide mean of $1.532. Ranked by pump price, Iceland is 42nd highest of 133 countries and 32nd highest of the 44 in Europe. Set against the Europe average the difference is 7.6% below. The nearest cheaper market in the region is Bosnia at 1.1% less; the nearest dearer is Hungary at 2.2% more.
Historical Price Trend
Over the last 3 months petrol in Iceland eased 1.1%, moving $1.810 to $1.790 a litre. The 34 weekly readings on record span $1.730 at the bottom and $1.992 at the top, the high falling on 12 January 2026. Diesel, meanwhile, fell 4.3% over the period. Between its 28 June low and its 12 January high the price swung 15.1%. Measured from the first reading of 2026 the pump price is 10.1% lower. On the same timeline home electricity rose 2.4%, reaching kr 26.12 per kWh.
As of 2026-08-27, the retail price of gasoline in Iceland is $1.820 per liter, and diesel costs $2.060 per liter. Iceland’s gasoline price is 18.8% above the global average of $1.532 per liter. Electricity for EV charging costs $0.216 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 4.4 minutes to afford one liter of gasoline — equivalent to 36.4% of a day's pay for a standard 40-liter fill-up.
Across Europe, 44 markets are covered: Azerbaijan is lowest at $0.676, Denmark highest at $2.790, 312.7% 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 | $86.21 /bbl | $0.662 /L | $1.820 | +174.9% |
| 🛢 WTI Crude | $81.52 /bbl | $0.633 /L | $1.820 | +187.5% |
| 🔥 Natural Gas | $2.92 /MMBtu | $0.129 /m³ | no data | — |
| ⚡ Lithium ETF | $75.92 /share | indirect | $0.216 | — |
| ☢ Uranium ETF | $48.05 /share | indirect | $0.216 | — |
How global commodity swings translated to pump prices here
| Commodity | Commodity Δ30D | Retail Δ30D | Pass-Through |
|---|---|---|---|
| 🛢 Brent Crude | +8.6% | +4.6% |
53%
|
| 🛢 WTI Crude | +7.6% | +4.6% |
61%
|
| 🔥 Natural Gas | +8.9% | — | — |