The Hike Continues for Black Gold

Iceland’s three major oil companies have denied accusations that the rising global price of oil is not the real factor in the companies’ recent decision to raise petrol prices in Iceland. RÚV reports that the smaller Atlantsolía, habitually with the lower prices than the big three on the market, also increased its prices yesterday, albeit by not as much as the other companies. Following that, Esso and Skeljungur (Shell) lowered their prices by half a króna, a large share of the initial price increase. The price of petrol at Esso, Skeljungur and Olís in the Reykjavík region (for self-service) is now around or a little over 111 krónur a litre, approximately $2. (See Daily News, January 12 for more.)