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Farm Inputs

Monthly Fuel Price Tracker

6 January 2015
  • Latest figures from OPEC show that the price of oil fell by $16.11 (21.3%) from November to $59.46/barrel in December 2014.
  • Annual comparisons show that the price of oil is down $48.21/barrel from December of last year when it was $107.67.
  • In sterling terms, the December price of £38.03/barrel was down £9.85/barrel (20.6%) from the previous month and down £27.73/barrel (42.2%) year-on-year.
  • In December 2014, the average price for red diesel was down 1.99ppl to 57.18ppl the lowest price since October 2010 and the retail pump price of diesel was down 2.39ppl to 124.79ppl compared with November 2014.
  • Compared with December 2013, red diesel prices are down 11.65ppl (16.9%) and the diesel pump  prices are also down 13.98ppl.

 

Dec-14

Nov-14

Dec-13

OPEC Price (US$ / Barrel)

59.46

75.57

107.67

OPEC Price (£ / Barrel)†

38.03

47.88

65.77

UK Red Diesel (ppl)*

57.18

59.17

68.83

UK Diesel Pump Price (ppl)

124.79

127.18

138.77

For more information click here to access the OPEC website for crude oil prices.

 *Red diesel duty November and December 2014 and December 2013 = 11.14ppl

† Exchange rate for December 2014 used 05/01/2015.

Source: HMRC/Defra, DECC, OPEC.

Fuel Prices- Monthly