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Farm Inputs

Monthly Fuel Price Tracker

25 June 2014
  • Latest figures from OPEC show that the price of oil rose by $1.15 (1.1%) from April to $105.42/barrel in May 2014.
  • Annual comparisons show that the price of oil is up $4.77/barrel from May of last year when it was $100.65.
  • In sterling terms, the May price of £62.59/barrel was up £0.27/barrel (0.4%) from the previous month and down £3.17/barrel (4.8%) year-on-year.
  • In May 2014, the average price for red diesel was up 0.42ppl to 66.83ppl and the retail pump price of diesel also rose 0.50ppl to 136.37ppl compared with April 2014.

Red diesel prices are down 1.32ppl (1.9%) to 66.83ppl and the diesel pump prices are also down 1.58ppl to 136.37ppl compared with May 2013.

For more up to date information, go to the OPEC website for crude oil prices and go to the DECC website for pre-tax diesel prices and diesel pump prices.
 
  May 2014 Apr 2014 May 2013
OPEC Price (US$ / Barrel) 105.42 104.27 100.65
OPEC Price (£ / Barrel)†

62.59

62.31 65.75
UK Red Diesel (ppl)* 66.83 66.41 68.15
UK Diesel Pump Price (ppl) 136.37 135.87 137.95

*Red diesel duty April and May 2014 and May 2013 = 11.14ppl

† Exchange rate for May 2014 used 30/05/2014.