An 18-year-old Irish woman has died following a high-speed car crash in Iceland on Monday, August 31.

Icelandic authorities are currently investigating the incident, which occurred in Krýsuvíkurvegur, around 30km south of Reykjavik, in the early hours of the morning.

Local media has reported that the young woman was travelling in a BMW with two Icelandic people when it veered off the road and crashed onto a lava cliff, killing all three inside.

Reports have suggested that the BMW was travelling at around 200km/h at the time and caught fire as it hit the lava cliff.

Icelandic president Halla Tómasdóttir paid tribute to the crash victims with a post on Facebook.

She wrote: ‘My thoughts are with the families and friends of the young individuals who died in the tragic accident last night. No words can convey such a loss.

‘When grief knocks in this way, we are reminded of how precious and fragile life is. Let’s be careful and look out for each other.’

Memorial services for the two Icelandic passengers are set to be held on Wednesday evening.

200 young people also attended a moment of silence for one of them at Sund High School in Langholtskirkja on Monday night, where they were a student.

Local media outlet Vísir reported: ‘The police in the capital area are investigating the accident. According to Vísir’s sources, there were several cars at the scene and police say that is one factor that is being investigated. They are also looking into whether speeding was involved.’

The Department of Foreign Affairs stated that it was ‘aware of this case and is providing consular assistance’.