The Norwegian Automobile Federation (NAF) has raised alarms regarding a potential price shock for fuel prices when tax reductions expire on September 1. Despite tax cuts, fuel prices for petrol and diesel were higher in July compared to June, according to data from Statistics Norway.
The average price for diesel in July was 20.25 NOK per liter, while petrol was slightly lower at 19.59 NOK per liter. NAF notes that current diesel prices are about the same as this time last year, and petrol prices are over one NOK cheaper than June 2022.
Ingunn Handagard, press chief at NAF, emphasized the crucial role that tax exemptions play in keeping fuel prices down for consumers. Without these reductions, NAF projects fuel prices could soar back to levels seen previously this year, approaching 24.51 NOK for diesel and 24 NOK for petrol once taxes are reapplied.
Prospective calculations suggest that consumers could pay approximately 1,150 NOK more in petrol taxes and about 940 NOK more for diesel from September through the end of the year, based on moderate fuel consumption.
Handagard added it is too early to predict pricing normalization. If fuel prices continue to rise, she expects that political actions will be implemented swiftly to address the situation.
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Source: bobilverden.no