ONE OF THE FEW EXCEPTIONS TO THE TIMEZONE RULE:

Electricity for Cars Costs Much Less than Fossil Fuels (Iceland Review, 11/20/09)

Ólafur Bjarnason, director of transport for the City of Reykjavík, stated at a meeting yesterday that if the half of the capital’s inhabitants would use electricity instead of fossil fuels to power their cars, up to ISK 5.4 billion (USD 43 million, EUR 29 million) would be saved each year.

Bjarnason explained that electricity only costs ten percent of what fossil fuels will cost, around ISK 600 million (USD 4.8 million, EUR 3.2 million) instead of ISK 6 billion (USD 48 million, EUR 32 million), Fréttabladid reports.

The government announced its plans for a new taxation system on Wednesday, which include an increase in the price of gasoline and diesel oil.