Fuel prices remain high in Finland as neighboring countries cut taxes

Fuel prices in Finland continue to rise, with crude oil now at its highest level since mid-June, according to a report by Yle. European gasoline market prices have also climbed 44 percent in the same period.

ST1 oil products director Timo Jokinen told Yle that two major global crises are currently affecting oil product prices.

Finland’s prices are notably higher than in Sweden and Norway, where drivers pay up to 60 cents less per liter. Jokinen attributed the difference to tax reductions in both countries—Sweden has implemented cuts twice, while Norway has done so once. Finland has not introduced similar measures.

Additional factors influencing prices include taxation, logistical costs, and high seasonal demand, Jokinen said.

While tax cuts could ease the burden on consumers, Jokinen expressed reservations, stating they risk creating “a false illusion that the state can always compensate for every market disruption.”