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ID| Fuel Type | USD / Liter | ISK / Liter | vs World Avg |
|---|---|---|---|
| ⛽ Gasoline (Petrol) | $2.270 | kr 276 | +42.5% |
| 🚛 Diesel | $2.680 | kr 325 | +68.2% |
| 🔵 LPG / Autogas | N/A | — | |
| ⚡ Electric (kWh) | $0.208 | kr 25.25 | |
| ⚡ Electric Business (kWh) | $0.106 | kr 12.87 | |
| 🔥 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 11,021. 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 325/L — 18.1% above the gasoline rate. The Europe norm from 44 markets is diesel 9.4% above gasoline, so wider here.
How Iceland Compares Globally
At kr 276/L — $2.270 a litre — petrol in Iceland runs 42.5% above the worldwide mean of $1.593. Ranked by pump price, Iceland is 17th highest of 133 countries and 13th highest of the 44 in Europe. Set against the Europe average the difference is 11.0% above. The nearest cheaper market in the region is Ireland at 1.8% less; the nearest dearer is United Kingdom at 3.1% more.
Historical Price Trend
Petrol has grown 29.3% dearer in Iceland over 3 months, from $1.740 to $2.250 per litre. The 42 weekly readings on record span $1.730 at the bottom and $2.250 at the top, the high falling on 5 October 2026. Diesel, meanwhile, rose 40.4% over the period. Between its 28 June low and its 5 October high the price swung 30.1%. Measured from the first reading of 2026 the pump price is 13.0% higher. Residential power barely shifted, remaining close to kr 25.25 per kWh.
As of 2026-10-23, the retail price of gasoline in Iceland is $2.270 per liter, and diesel costs $2.680 per liter. Iceland’s gasoline price is 42.5% above the global average of $1.593 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 5.4 minutes to afford one liter of gasoline — equivalent to 45.4% of a day's pay for a standard 40-liter fill-up.
Across Europe, 44 markets are covered: Azerbaijan is lowest at $0.676, Norway highest at $3.120, 361.5% 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 | $113.53 /bbl | $0.834 /L | $2.270 | +172.2% |
| 🛢 WTI Crude | $99.84 /bbl | $0.748 /L | $2.270 | +203.5% |
| 🔥 Natural Gas | $2.76 /MMBtu | $0.123 /m³ | no data | — |
| ⚡ Lithium ETF | $60.68 /share | indirect | $0.208 | — |
| ☢ Uranium ETF | $34.09 /share | indirect | $0.208 | — |
How global commodity swings translated to pump prices here
| Commodity | Commodity Δ30D | Retail Δ30D | Pass-Through |
|---|---|---|---|
| 🛢 Brent Crude | +9.7% | +3.2% |
33%
|
| 🛢 WTI Crude | +10.4% | +3.2% |
31%
|
| 🔥 Natural Gas | -8.8% | — | — |