Drivers will see new prices at the pump from Monday, when the economy ministry’s revised fuel pricing rules come into force. Maximum retail prices will be recalculated every week instead of every two weeks, based on the average wholesale price over the previous seven days.
The first update brings mixed news. Diesel will rise by 4 cents to 1.71 euros per liter, while standard petrol will fall by 1 cent to 1.64 euros.
Why the rules changed
Under the old system, pump prices lagged behind wholesale markets by up to a month. When wholesale prices fell, drivers waited weeks to feel the difference; when they rose, retailers complained of selling at a loss.
Weekly updates mean prices follow the market more closely in both directions. Drivers should see cuts sooner when wholesale costs fall.
Jonas Ekberg, head of the energy markets department at the economy ministry
The ministry also cut the maximum margin retailers can add on top of wholesale costs, from 12 to 11 cents per liter, for highway stations as well as city ones.
Mixed reactions
The association of fuel retailers said weekly changes would mean more work for station staff and more confusion for customers, but accepted the new formula. “We can live with it, as long as the margin is enough to keep small rural stations open,” said its spokesperson, Marta Sorensen.
Motorists’ groups were less positive about the timing. Diesel is used by most delivery vans, trucks and many family cars, and the rise comes ahead of the heating season, when demand traditionally pushes prices higher.
For a typical 50-liter tank of diesel, Monday’s change adds about 2 euros per fill-up. Hauliers estimate the increase will cost a mid-sized transport company several thousand euros a month.
What to watch
The ministry will publish the new maximum prices every Friday afternoon, valid from the following Monday. Economists expect diesel to stay under pressure through the winter, while petrol prices could ease further if wholesale markets stay calm.
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Comments 2
At least it’s predictable now. Friday announcement, Monday change. I’ll fill up on Sundays.
Funny how cuts always take a week and increases happen immediately.