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Finland’s oil prices, electricity down in Q1-2015

Finland’s oil prices, electricity down in Q1-2015

HELSINKI: Consumer prices of liquid fuels fell clearly in the first quarter of 2015, which was a consequence of the fallen world market price of crude oil, according to Statistics Finland’s data.

The price of electricity was also falling in the Nordic electricity exchange. This was visible in lower prices of electricity for enterprise and corporate customers. Changes in tax rates raised the price of coal but decreased the price of milled peat in heat production.

The plunge of the world market price of crude oil that started in summer 2014 appears to have halted at the turn of the year. The plunge has had an evident effect on the price of oil products imported to Finland as well. The consumer prices of liquid fuels have been clearly lower in the first quarter than one year earlier.

The prices of motor gasoline and diesel oil dropped by 13 to 14 per cent while the price of light fuel oil went down by 15 per cent as per the stati