Monthly Fuel Price Tracker

Published 10 August 17

Fuel Prices - Chart

*Red diesel duty June and July 17 and July 16 = 11.14ppl

Source: HMRC/Defra, DECC, OPEC.

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

 

Fuel Prices- Monthly 

Annual Price

Figures show that the average price of oil stood at $40.76/barrel for 2016 which was a fall of 17.6% compared with 2015.

Given this fall in 2016, following the large drop in 2015, crude oil prices have stayed below 2005 levels at $40.76/barrel in 2016 compared with $50.64 in 2005. Dairy farmers are now paying an annual average of 44.96ppl for red diesel - a rise of 4.59ppl (11.4%) over the last decade. Pump prices for diesel have increased by 14.92ppl (15.7%) over the same period.

  Average price (US$/Barrel) Average Price (£/Barrel) Average Red Diesel Price (ppl) Average Diesel Pump Price (ppl)
2005 50.64 27.84 35.55 90.86
2006 61.08 33.15 40.37 95.21
2007 69.08 34.50 41.76 96.85
2008 94.45 50.95 59.37 117.51
2009 61.06 38.96 46.44 103.93
2010 77.45 50.12 55.30 119.26
2011 107.46 67.01 68.58 138.72
2012 109.45 69.08 71.38 141.83
2013 105.87 67.68 70.19 140.41
2014 96.29 58.44 64.40 133.46
2015 49.49 32.37 48.94 114.90
2016 40.76 30.08 44.96 110.13
 
2015 to 2016 Change -8.73 -2.29 -3.98 -4.77
2015 to 2016 % Change -17.6% -7.1% -8.1% -4.2%

 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.