Monthly Fuel Price Tracker

Published 6 December 18

030_fuel _price _table

 *Red diesel duty October 18, November 18 and November 17 = 11.14ppl

Source: HMRC/Defra, DECC, OPEC.

For more information click here to access the OPEC website for crude oil prices.

031_fuel _price _graphs

 Annual Price

Figures show that the average price of oil stood at $52.43/barrel for 2017 which was an increase of 28.6% compared with 2016.

Given the fall in 2016, following the large drop in 2015, crude oil prices have stayed below 2006 levels at $52.43/barrel in 2017 compared with $61.08 in 2006. Dairy farmers are now paying an annual average of 53.33ppl for red diesel - a rise of 11.57ppl (27.7%) over the last decade. Pump prices for diesel have increased by 23.32ppl (24.1%) over the same period.

 Annual Fuel

Annual fuel chart

Source: OPEC/DECC/Defra

The new OPEC Reference Basket (ORB), implemented from 16 June 2005, is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Mercy (Venezuela).

Up to December 2005: Monthly & Yearly averages were based on weekly quotations.

As of January 2006: Monthly & Yearly averages are based on daily quotations.

As of January 2006: The Basket Price is subject to revision.