The main oil companies in Iceland have reduced their gas prices by ISK 8.7 (USD 0.13) since mid-July. The last increase was on 17 July, when gas went up by ISK 3 per liter, ending in ISK 133 (USD 1.90) per liter. Gas has gone down in increments since then, with the common self-service price at present being ISK 124 (USD 1.79). According to the Icelandic Automobile Association, the oil companies increased their mark-up in August, however, in relation to the global market price for oil. This is reported by RÚV online.