Fuel prices

Updated 8 April 2021

These figures give an overview of the fuel markets, focusing on crude oil and diesel prices on both a monthly and annual basis.

Monthly

*Red diesel duty = 11.14ppl from April 2011




Annual

Overview

  • Figures show that the average price of oil stood at $41.47/barrel for 2020 which was a decrease of 35.2% compared with 2019.
  • The annual fuel (red diesel and diesel pump) price has decreased last year following three years of increases.
  • Dairy farmers in 2020 paid an annual average of 52.47ppl for red diesel - a decrease of 10.28ppl (16.4%) compared to 2019.
  • Pump prices for diesel have decreased by 12.34ppl (9.4%) over the same period.


Additional information

  • 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.
Visit the OPEC website for more on crude oil prices

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