The major gas companies in Sweden have raised the price for gasoline to new record heights. One gallon of gasoline (4 litres) will now cost you $8,48 (around 52 Swedish Kronor).

The increase in fuel costs can not be blamed on higher gas taxes, like some political parties in Sweden have discussed to introduce. Experts say the fuel costs are rising because of increasing global demand and because the stock market have started to invest more money in natural resources like oil and food.

The fuel costs are expected to continue to rise and reach new record heights during the summer.

Ulf Svahn, from the Swedish petroleum institute (SPI), don’t think that the current expenses will encourage people to use the car less, saying that the expenses are still too small to make a difference.

Image credit: Pål Berge. Image licensed under a Attribution license.