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ID| Fuel Type | USD / Liter | ISK / Liter | vs World Avg |
|---|---|---|---|
| ⛽ Gasoline (Petrol) | $2.090 | kr 254 | +32.9% |
| 🚛 Diesel | $2.380 | kr 289 | +51.3% |
| 🔵 LPG / Autogas | N/A | — | |
| ⚡ Electric (kWh) | $0.216 | kr 26.21 | |
| ⚡ Electric Business (kWh) | $0.106 | kr 12.86 | |
| 🔥 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 10,144. In working time on an average salary: 5.0 minutes a litre, 3.3 hours a tankful.
Diesel Price in Iceland
Diesel in Iceland is priced at kr 289/L — 13.9% above the gasoline rate. The Europe norm from 44 markets is diesel 8.4% above gasoline, so wider here.
How Iceland Compares Globally
At kr 254/L — $2.090 a litre — petrol in Iceland runs 32.9% above the worldwide mean of $1.573. Ranked by pump price, Iceland is 26th highest of 133 countries and 21st highest of the 44 in Europe. Set against the Europe average the difference is 0.8% above. The nearest cheaper market in the region is Czech Republic at 0.5% less; the nearest dearer is Lithuania at 1.0% more.
Historical Price Trend
Petrol has grown 15.1% dearer in Iceland over 3 months, from $1.790 to $2.060 per litre. The 37 weekly readings on record span $1.730 at the bottom and $2.060 at the top, the high falling on 14 September 2026. Diesel, meanwhile, rose 13.6% over the period. Between its 28 June low and its 14 September high the price swung 19.1%. Measured from the first reading of 2026 the pump price is 3.4% higher. On the same timeline home electricity rose 4.3%, reaching kr 26.21 per kWh.
As of 2026-09-17, the retail price of gasoline in Iceland is $2.090 per liter, and diesel costs $2.380 per liter. Iceland’s gasoline price is 32.9% above the global average of $1.573 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 5.0 minutes to afford one liter of gasoline — equivalent to 41.8% 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 $3.160, 367.5% 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 | $105.73 /bbl | $0.785 /L | $2.090 | +166.2% |
| 🛢 WTI Crude | $102.25 /bbl | $0.763 /L | $2.090 | +173.9% |
| 🔥 Natural Gas | $2.90 /MMBtu | $0.128 /m³ | no data | — |
| ⚡ Lithium ETF | $69.85 /share | indirect | $0.216 | — |
| ☢ Uranium ETF | $41.37 /share | indirect | $0.216 | — |
How global commodity swings translated to pump prices here
| Commodity | Commodity Δ30D | Retail Δ30D | Pass-Through |
|---|---|---|---|
| 🛢 Brent Crude | +19.4% | +16.8% |
87%
|
| 🛢 WTI Crude | +24.2% | +16.8% |
69%
|
| 🔥 Natural Gas | +4.7% | — | — |