Fuel prices set to rise from August

The government’s decision to increase taxation on petroleum products will come into force from 1 August, which will result in a price hike of petrol and diesel by six to seven cents per litre.

The price hike may lead the motorists to fill-up the tanks of their vehicles, but it will not create shortage of fuel supply in the country, a Yle report said quoting Neste Director Katri Taskinen.

“Motorists do not have to worry about fuel sufficiency. We are prepared for the growth in demand at the stations and in our transport system,” Taskinen told the Yle.

An official of Teboil in Helsinki also suggested motorists not to be too perturbed by the rise in fuel prices.