Updated 7 November 2019
These figures give an overview of the fuel markets, focusing on crude oil and diesel prices on both a monthly and annual basis.
*Red diesel duty = 11.14ppl from April 2011
- Figures show that the average price of oil stood at $69.78/barrel for 2018 which was an increase of 33.1% compared with 2017.
- This is the second year that the annual fuel (red diesel and diesel pump) price has risen.
- Dairy farmers are now paying an annual average of 61.51ppl for red diesel - a rise of 8.19ppl (15.4%) compared to 2017.
- Pump prices for diesel have increased by 9.83ppl (8.2%) over the same period.
- 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). This price is subject to revision.
- As of January 2006, the monthly & yearly averages are based on daily quotations.