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MONEY

How and where to get the cheapest fuel in Norway

Norway is leading the pack when it comes to the sales of new electric vehicles. In fact, nearly 60 percent of all new car sales in this country are electric. But for petrol and diesel car owners who have yet to make the switch, knowing when and where to find the cheapest fuel can end up saving you thousands of kroner.

A petrol station in Norway in 2021. Refuelling your car is a pricey business in the Nordic country, but there are ways to limit costs.
A petrol station in Norway in 2021. Refuelling your car is a pricey business in the Nordic country, but there are ways to limit costs. Photo by Malik Skydsgaard on Unsplash

Why is it so expensive to fuel up?

Fuel – gasoline, petrol and diesel — is an expensive monthly bill for many. Norway typically has some of the highest fuel prices in Europe. The at-times sky high prices are mainly due to taxes on fuel imposed by the government, as well as the usual international market factors.

The Norwegian Competition Authority or Konkurransetilsynet recently stated that it is perhaps now more important than ever before to be aware of the ever changing fuel prices.

We have registered price differences of 2-3 kroner in the same local area. There is undoubtedly money to be saved by following along,” said Marita Skjæveland, deputy leader of the Norwegian Competition Authority’s energy section to broadcaster TV2.

The average price to fuel up between the months of July to October this year was 18.8 kroner per litre (2.26 dollars or 1.94 euros). 

READ ALSO: Five things that are becoming more expensive in Norway (and why)

Does it matter which day you fuel up?

As of writing, routinely fueling your vehicle on a specific day of the week will likely no longer save you money. 

“We see that the players in the market still raise prices two to three times a week, but that it happens on different days from week to week,” Skjæveland told TV2. The competition analyst added that by the end of the year, fixed price increases may also happen over the weekend. As such, it’s important to stay updated not only on the weekdays, but on the weekends as well.

Previously, Sunday evenings and early on Monday mornings used to be known as the cheapest time to fill your vehicle’s tank with petrol or diesel.  This is now a practice of the past. 

Where can I find cheap petrol prices online?

Hunting for the cheapest fuel prices in Norway is quite common. It’s also a normal discussion to have with your neighbours and colleagues. So don’t be worried about appearing ‘cheap’ if you want to talk about the high price of fuel. Or share which local petrol stations you have noticed to be less expensive. 

You can check Facebook for groups that are committed to informing the public on where to find the cheapest petrol stations. 

For Oslo and its surrounding areas, you can try here, and if you live in or are driving through the south of Norway, check here.

Drivestoff is an app designed to compare prices of petrol stations you will drive by on your journey so you can plan ahead to get the cheapest fuel. You can find more information and download the app here.

You can also save money by looking for a queue of cars at a petrol station. Yes, it may be just busy. But oftentimes, a queue is a signal for cheaper petrol prices. 

Memberships and credit cards can save you money on fuel

If you’re in the market for a credit card, look for one that might save you money on fuel. Credit cards such as 365 Direct and Flexi VISA will give you good discount options at all petrol stations. If you have a particular station you always fill up at, such as a YX, you can sign up for the company’s credit card to receive discounts on fuel. 

There are also benefits to be had if you sign up for a credit card or a drivstoffkort or “fuel card”.

A drivstoffkort is a special credit card which you use to pay when refuelling your vehicle. The cards generally only work at the stations run by the company to which the card belongs. Different deals and types of card are available, depending on the company.

Specific deals on credit card and drivstoffkort discounts can be found (in Norwegian) here

You can sometimes use membership cards with grocery stores or real estate organisations to give you discounts on fuel. For example, the Coop Medlemskort will save you 45 øre when filling up at Circle K petrol stations. Trumf kortet, which is associated with the chains Kiwi, Meny, Joker and Spar, gives you bonuses when you fill up at Shell stations. OBOS members receive a 27 øre discount on petrol and diesel at both Statoil and 1-2-3-Automat stations. 

Where can I get the lowest priced petrol?

Petrol stations in Norway are extremely competitive. There is no one company that is known to sell gasoline or diesel cheaper than the others

Like many other goods, fuel prices around Norway will rise and fall with demand. Typically, fuel stations located in mountainous towns or areas that heavily rely on tourism will have more expensive fuel. If you’re on holiday in such a town or area, and can wait to fuel up when you get to a more trafficked motorway, it will likely save you money. 

Petrol stations that don’t have employees on location tend to be slower at increasing their prices to match the competition. So if you know you’ll be passing by an ubemannet or “unstaffed” petrol station on your trip, it may be cost-effective to wait and fill up there. 

Consider how much time you want to invest

Joining the hunt for cheaper fuel may not be for everyone. It is time consuming, and admittedly hard to achieve due to the ever-changing prices. If you are not dependent on your vehicle for your daily commute and don’t often drive long distances, fueling up at your local gas station may be the best choice. 

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For members

EUROPEAN UNION

Pensions in the EU: What you need to know if you’re moving country

Have you ever wondered what to do with your private pension plan when moving to another European country?

Pensions in the EU: What you need to know if you're moving country

This question will probably have caused some headaches. Fortunately a new private pension product meant to make things easier should soon become available under a new EU regulation that came into effect this week. 

The new pan-European personal pension product (PEPP) will allow savers to take their private pension with them if they move within the European Union.

EU rules so far allowed the aggregation of state pensions and the possibility to carry across borders occupational pensions, which are paid by employers. But the market of private pensions remained fragmented.

The new product is expected to benefit especially young people, who tend to move more frequently across borders, and the self-employed, who might not be covered by other pension schemes. 

According to a survey conducted in 16 countries by Insurance Europe, the organisation representing insurers in Brussels, 38 percent of Europeans do not save for retirement, with a proportion as high as 60 percent in Finland, 57 percent in Spain, 56 percent in France and 55 percent in Italy. 

The groups least likely to have a pension plan are women (42% versus 34% of men), unemployed people (67%), self-employed and part-time workers in the private sector (38%), divorced and singles (44% and 43% respectively), and 18-35 year olds (40%).

“As a complement to public pensions, PEPP caters for the needs of today’s younger generation and allows people to better plan and make provisions for the future,” EU Commissioner for Financial Services Mairead McGuinness said on March 22nd, when new EU rules came into effect. 

The scheme will also allow savers to sign up to a personal pension plan offered by a provider based in another EU country.

Who can sign up?

Under the EU regulation, anyone can sign up to a pan-European personal pension, regardless of their nationality or employment status. 

The scheme is open to people who are employed part-time or full-time, self-employed, in any form of “modern employment”, unemployed or in education. 

The condition is that they are resident in a country of the European Union, Norway, Iceland or Liechtenstein (the European Economic Area). The PEPP will not be available outside these countries, for instance in Switzerland. 

How does it work?

PEPP providers can offer a maximum of six investment options, including a basic one that is low-risk and safeguards the amount invested. The basic PEPP is the default option. Its fees are capped at 1 percent of the accumulated capital per year.

People who move to another EU country can continue to contribute to the same PEPP. Whenever a consumer changes the country of residence, the provider will open a new sub-account for that country. If the provider cannot offer such option, savers have the right to switch provider free of charge.  

As pension products are taxed differently in each state, the applicable taxation will be that of the country of residence and possible tax incentives will only apply to the relevant sub-account. 

Savers who move residence outside the EU cannot continue saving on their PEPP, but they can resume contributions if they return. They would also need to ask advice about the consequences of the move on the way their savings are taxed. 

Pensions can then be paid out in a different location from where the product was purchased. 

Where to start?

Pan-European personal pension products can be offered by authorised banks, insurance companies, pension funds and wealth management firms. 

They are regulated products that can be sold to consumers only after being approved by supervisory authorities. 

As the legislation came into effect this week, only now eligible providers can submit the application for the authorisation of their products. National authorities have then three months to make a decision. So it will still take some time before PEPPs become available on the market. 

When this will happen, the products and their features will be listed in the public register of the European Insurance and Occupational Pensions Authority (EIOPA). 

For more information:

https://www.eiopa.europa.eu/browse/regulation-and-policy/pan-european-personal-pension-product-pepp/consumer-oriented-faqs-pan_en 

https://www.eiopa.europa.eu/browse/regulation-and-policy/pan-european-personal-pension-product-pepp_en 

This article is published in cooperation with Europe Street News, a news outlet about citizens’ rights in the EU and the UK. 

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