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Fuel prices
Updated 17 January 2025
These figures give an overview of the fuel markets, focusing on crude oil and average UK diesel prices on both a monthly and annual basis.
Monthly
*Red diesel duty = 11.14ppl from April 2011 to March 2022, 10.18ppl from April 2022
Annually
Overview
- Figures show that the average price of oil stood at $79.89/barrel for 2024 which was a decrease of 3.7 compared with 2023.
- The annual fuel (red diesel and diesel pump) price has decreased in 2024 compared to the previous year.
- Dairy farmers are now paying an annual average of 80.84 ppl for red diesel - a decrease of 8.22ppl (9.2%) compared to 2023.
- Pump prices for diesel have decreased by 9.86 ppl (6.2%) 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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