In short: what budget should I plan for 7 days in Iceland?

For a one-week trip to Iceland in 2026, count an average land budget of between €865 and €1,730 per person on a two-passenger basis, excluding international flights.

• Return flights:
• Transport & Road tax:
• Accommodation:
• Restoration:

Detailed budget for 7 days in Iceland in 2026

Traveling to Iceland involves anticipating fixed expenditure items, in particular cars and housing, because the costs on site leave little room for improvisation.

Here is the summary of the actual costs for two people sharing the costs of the vehicle and accommodation for one week (8 days / 7 nights).

expense item	Economical (Van/Camping)	Medium (4×4 Compact / Guesthouse)	Comfort (4×4 family / 3* hotel)
Return flight (per person)	200 €	350 €	600 €
Vehicle rental (7 days)	770 € (4×4 van)	500 € (Dacia Duster)	€1,000 (Toyota RAV4)
Kilometer tax (“Kílómetragjald”)	75 € (~1,500 km)	75 € (~1,500 km)	75 € (~1,500 km)
Fuel (SP95)	250 €	235 €	250 €
Accommodation (7 nights for 2)	€18.90 (Camping tax) + pitch	935 € (guesthouse / hotel)	€1,300 (hotels)
Food (per person)	280 € (supermarket)	420 € (mixed)	560 € (restaurants)
Car insurance (GP + SAAP)	126 €	126 €	126 €
Total per person (flights included)	~1,080 €	~1,590 €	~2,330 €

Vehicle rental, fuel and mileage tax: the real figures

Car rental is the first expense item for a road trip in Iceland. Prices vary greatly between the intermediate season and the high summer season (June to August), where an average additional cost of 40% is observed on vehicles and accommodation.

For a 4×4 compact SUV type Dacia Duster, count between 500 € and 800 € per week in the intermediate season with local rental companies like Blue Car Rental. If you opt for a more spacious Toyota RAV4 family 4×4 in high season, the price rises between €700 and €1,000 per week. Alternatively, the rental of a 4×4 converted van starts at around €110 per day, or €770 per week.

On the fuel side, the year 2026 marks a significant change: the price of SP95 gasoline is between 216.70 ISK and 224.15 ISK per liter (i.e. €1.52 to €1.57/l). This represents a drop of about 80 ISK to 90 ISK per liter at the pump compared to 2025 (where prices reached nearly 300 ISK/L) due to Icelandic government tax reform.

However, this drop at the pump is offset by the establishment of the compulsory mileage road tax (“Kílómetragjald”). Fixed by the Icelandic government, it amounts to 6.95 ISK per kilometer (~0.05 €/km) for passenger vehicles of less than 3.5 tons. For a classic one-week course covering the south coast and the Cercle Dor (~1,500 km), the real kilometer tax amounts to around 10,425 ISK (~75 €). Some renters offer a daily package included for this tax, between 1,390 ISK/day (~€9.50) and 1,550 ISK/day (~€10.50).

To complete your transport budget, add the necessary specific insurances:

• Gravel Protection (GP):
• Sand and Ash Protection (SAAP):

Accommodation and tourist taxes: what to expect?

The average accommodation budget for 7 nights based on two people sharing a room in a guest house or a 3-star hotel amounts to around 140,000 ISK (~935 €).

According to the Icelandic Tax Directorate (Skatturinn), the tourist tax (“Gistináttaskattur”) applies directly to your invoice:

• Hotels and Guesthouses:
• Campsites:

Food and entry formalities

The food budget for 7 days per person varies between 42,000 ISK and 84,000 ISK (~280 € to 560 €). To maintain the budget at 280 €, favor purchases in discount supermarkets (bonus or krónan). Taking your meals regularly in local restaurants will increase the bill around €560 per person.

Regarding entry formalities for citizens of the European Union, a national identity card or a valid passport is sufficient to enter Iceland (Schengen area). No visa is required for a tourist stay of less than 90 days.

Frequently Asked Questions about the Iceland Budget

What is the average budget per person for one week in Iceland?

The average land budget excluding flights amounts to between €865 and €1,730 per person for 7 days, on a basis of two travelers sharing the costs of housing and 4×4 car rental.

How much does fuel and road tax cost in Iceland in 2026?

SP95 gasoline costs between €1.52 and €1.57 per liter. It is necessary to add the compulsory mileage tax of 6.95 ISK/km (~0.05 €/km), or approximately €75 for a classic route of 1,500 km.

Do I have to pay a tourist tax in Iceland?

Yes, according to the Icelandic Tax Directorate (Skatturinn), the tourist tax amounts to 800 ISK per night (~5.40 €) per hotel or guesthouse room, and 400 ISK per night (~2.70 €) per location camping.

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