Statoil cuts price of petrol

Statoil has cut the price of petrol by 15 öre per litre to 11.72 kronor per litre. The move breaks a run of eight straight price rises since mid-May.

A spokesman for the company told Dagens Nyheter that the reason was a fall in world oil prices.

“Last week everyone thought that Hurricane Dennis would hit oil production hard, which would raise oil prices, but the hurricane did not become as strong as was expected,” Einar Botten told the paper.

Rival petrol station chain OKQ8 is expected to follow suit. Press officer Cecilia Wikström told DN that the strengthening of the krona against the dollar has made petrol cheaper for Swedish companies.

Sources: Dagens Nyheter, Göteborgs Posten