From May 1, fuel taxes will be reduced. This will make gasoline 1 krona cheaper while the price of diesel will be reduced by 40 öre per liter including VAT.
But it's the taxes that are changing. The reduction is quickly being eaten up by oil prices that have skyrocketed in recent days. On Thursday, pump gasoline prices will increase by 50 öre per liter while diesel will become 70 öre more expensive, according to the fuel companies' corporate prices, which also indicate the changes for private motorists.
The new prices, before Friday's tax cut, will be just over 19.50 kronor for gasoline, while diesel costs around 22.70 kronor per liter.
Before the Iran war began on February 28, gasoline and diesel cost around 15 and 17 kronor, respectively.
The rise in crude oil prices has accelerated in recent days. The market is reacting to dashed hopes for peace between the United States and Iran, with Iran keeping the strategically important Strait of Hormuz closed. Nearly 20 percent of the world's total oil and gas consumption passes through the strait.
On Thursday morning, a barrel of North Sea oil cost around $125, compared with just over $70 before the war began on February 28. But by lunchtime, the price had fallen significantly back to around $116.
The tax reduction on gasoline and diesel in Sweden is temporary and valid until the end of September.
