Diesel prices at Norwegian service stations have climbed to over NOK 24 per litre, marking a significant increase despite a concurrent decline in global crude oil benchmarks.
The divergence between falling wholesale costs and rising retail prices highlights the growing impact of geopolitical risk premiums on downstream fuel markets in Northern Europe.
Data from Drivstoffappen indicates that average prices reached multi-month highs on Monday morning.
This surge comes just four weeks before the scheduled reinstatement of fuel taxes, which is expected to further pressure consumer costs.
The timing suggests that retailers and distributors are adjusting margins in anticipation of tighter supply conditions and higher input costs later in the quarter.
The price spike is largely attributed to ongoing tensions in the Strait of Hormuz, where shipping risks continue to disrupt global energy flows.