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Finnish petrol takes fifth place in weekly EU price ranking

Higher prices for a litre of 95 octane petrol were charted in only Italy, Greece, Denmark and the Netherlands.

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Pumps at the ready in Finland. Image: Henrietta Hassinen / Yle

The price of 95 RON fuel in Finland is the fifth highest among the 28 member states of the European Union this week, according to fresh figures from the European Commission.

As of 15 July 2019, the average price per litre was 1.56 euros, placing Finland in fifth position overall in the weekly report, behind Italy (1.60), Greece (1.62), Denmark (1.66) and the Netherlands (1.69).

In contrast, the cheapest prices for the same grade petrol this week were recorded in Bulgaria (1.11), Lithuania (1.14) and Latvia (1.18).

At the start of the week, petrol was being sold for 1.36 euros per litre in Estonia, or 20 cents cheaper per litre than in Finland. The price per litre difference between the neighbouring countries for diesel fuel was much lower, at only four cents.

Finland's average price for diesel of 1.37 euros per litre comes nowhere near the top of the EU's diesel fuel price ranking, as prices are currently higher in Sweden, the UK, France, Italy, Belgium and Greece. Sweden topped the charts in this area, with an average price per litre of 1.50 euros.

Distinct regional differences

The European Commission's colour-coded map of petrol prices is clearly divided into three areas: the less expensive east, the mid-priced centre, and the more expensive west and north. The only exceptions to this rule are the Mediterranean countries of Italy and Greece, which have high averages prices for both fuels.

In Finland, taxes represent 63 percent of the final price tag for 95 octane petrol and 53 percent of the total for diesel fuel. Taxes on fuel tend to be high in Europe. According to the website GlobalPetrolPrices.com, the average price for a gallon of gasoline in the US on 15 July was 2.76 euros, which is equivalent to 0.73 euros per litre.

The weekly chart of consumer prices of petroleum products in the EU is compiled from data reported by the individual member states.

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