Updated 4 February 2020
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 $64.04/barrel for 2019 which was a decrease of 8.2% compared with 2018.
- This is the third year that the annual fuel (red diesel and diesel pump) price has increased.
- Dairy farmers are now paying an annual average of 62.78ppl for red diesel - a rise of 1.27ppl (2.1%) compared to 2018.
- Pump prices for diesel have increased by 1.52ppl (1.2%) 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.