Iceland Trip Toolkit Tool 21 / Money

Money

Fuel Cost Calculator

Fuel is 35% of self-drive trip cost. Picking the right station and route matters.

Fuel cost

Station logic

Costco in Reykjavík is consistently the cheapest — ISK 280–300/L for petrol vs ISK 320–340 at N1. But you need a Costco card (members or +1 guest). Without Costco, N1 is usually the cheapest regular chain, especially in the south and east. Olís charges a few ISK more per litre but has more stations in remote areas.

Stations on the Ring Road have predictable spacing (every 100–200 km). In the Westfjords, fill up in Ísafjörður — the next reliable station is 200+ km away. Always start the day above half a tank in remote areas.

FAQ

Is Costco fuel really that much cheaper?

Yes — typically 30–40 ISK/L less. On a 7-day trip using 150L, that's ISK 4,500–6,000. Worth getting a Costco membership if you're a member already, or borrowing someone's card.

Are pumps self-service?

Yes for cards (insert, choose amount, fill). Cash not always accepted at the pump; some stations are unmanned overnight. Most stations have staff for help.

Diesel or petrol?

Diesel is usually ISK 30–50/L cheaper and most modern 4WD rentals are diesel. Petrol is fine if your rental specifies it. Confirm what your rental takes before driving off — wrong fuel is a costly mistake.