Petrol price reaches 2010 high

The major petrol retailers in Sweden have hiked prices by a further 0.10 kronor to 13.37 kronor ($1.85) - a record high for 2010.

Since the turn of the year prices have climbed by 0.73 kronor per litre and from 11.69 per litre in the corresponding month of 2009.

Diesel prices have also been hiked by 0.20 kronor to a year high of 12.56 kronor per litre.

The price rises have been put down to higher crude oil costs and the improved economic climate.

“However, there is no real substance for the price increases when both crude oil and gasoline stocks in the U.S. are actually increasing,” said Ulf Svahn of the Swedish Petroleum Institute to news agency TT.

Svahn expects prices to continue rising as the summer approaches.

“Expectations of higher demand for the summer season has steadily increased recently and it may mean that petrol prices reach around 14 per litre this summer,” he said.

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