Fuel prices

Updated 3 July 2024

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, 10.18ppl from April 2022



  • Figures show that the average price of oil stood at $82.95/barrel for 2023 which was a decrease of 17.1% compared with 2022.
  • The annual fuel (red diesel and diesel pump) price has decreased in 2023 compared to the previous year.
  • Dairy farmers are now paying an annual average of 89.05ppl for red diesel - an decrease of 15.22ppl (14.6%) compared to 2022.
  • Pump prices for diesel have decreased by 19.47ppl (11.0%) 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

Contact us

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.

If you need any further help, please email Martin, Dorian, Gavin or Esther at datum@ahdb.org.uk

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Fuel prices

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