Updated 5 August 2022
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 to March 2022, 10.18 from April 2022
- Figures show that the average price of oil stood at $69.89/barrel for 2021 which was an increase of 68.5% compared with 2020.
- The annual fuel (red diesel and diesel pump) price has increased last year following a decrease the previous year.
- Dairy farmers are now paying an annual average of 65.64ppl for red diesel - an increase of 13.17ppl (25.1%) compared to 2020.
- Pump prices for diesel have increased by 15.80ppl (13.3%) 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.
This dataset was produced by our Data and Analysis Team. To find out more about the team, please visit the Data and Analysis team page.
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