According to the spokespeople for Iceland’s largest oil companies, the markup on fuel is much less than it needs to be in order to reach contribution margins, mbl.is reports.
Photo by Páll Stefánsson.
Should conditions in international markets not change, it is inevitable that fuel prices will go up, they told Morgunbladid today. It is clear, they say, that the companies cannot survive an ongoing price-battle.
The fuel market was caught in a whirlwind yesterday when Olís first raised the price of the liter by 20 ISK and then lowered it again when other companies did not follow suit. Skeljungur partly followed their lead, raising the price of the liter by 12 ISK, but also ended up retracting it.