Gas prices are still yo-yoing in Norway. But here's the twist: the surge in electric vehicles is actually helping push those prices down. Seriously.
Fewer people buying gas and diesel cars means fuel stations are fighting harder for every liter sold. Competition's gotten brutal. "The competition for volume has become significantly tougher," says Henning Aarsand, director of fuel company Automat1. "The increase in electric cars has reduced demand for both petrol and diesel cars, which has sharpened competition between the fuel stations."
He says around 17 kroner per liter is a level where margins start getting squeezed. Hard.
Automat1 claims they'll always push prices down and keep an eye on nearby stations. Prices are changing fast. "Sometimes the price changes several times during the day," Aarsand notes.
Just look at Tuesday's numbers. The lowest price was 17.99 kroner for diesel and 17.59 for petrol. The highest? A whopping 23.08 for diesel and 22.97 for petrol. That's a 268 kroner difference on a standard 50-liter tank for a medium-sized car.
"It illustrates how big the differences are," says Syver Orhagen, creator of the DrivstoffAppen app for checking local prices. Usually one station cuts its price, and the neighbors quickly follow.
The current downward trend is all about fierce local competition. Expect more wild swings. Big differences from morning to afternoon are now common. Even at the same station.