Petrol Prices
Since March 1983 I have kept a detailed record of fuel prices and fuel consumption, spanning fifteen different cars, both privately-owned and company. This table records the movement in fuel prices over that period, taking in each year the first fuel purchase in March. Prices are for leaded 4-star up to 1988, and unleaded thereafter. This roughly corresponds to the point when unleaded took over from 4-star as the standard fuel.
During the period covered by the table, "real" fuel prices fell between 1983 and 1992, encouraging a boom in road traffic, but then rose sharply due to the "fuel duty escalator", resulting in the fuel protest of 2000. At this time, fuel prices had risen by over 50% in five years, which undoubtedly caused much hardship.
The table also does not show peak prices in my local area, which were 224.6p/gallon (49.4p/litre) in October 1990, following the Iraqi invasion of Kuwait, and 390.5p/gallon (85.9p/litre) in June 2000, just before the fuel protest. Around this time I even paid 404.1p/gallon (88.9p/litre) in the Scottish Highlands. It seems that peak prices tend to occur in the autumn, and March, just as winter demand is tailing off, is often a low point in the year.
In 2005 there was a marked rise in the international price of oil, leading to a peak price of 426.9p/gallon (93.9p/litre) in September and October. 2010 and 2011 have seen a further steady increase in the oil price, added to which the VAT rate was increased from 17.5% to 20% from the beginning of 2011. In fact, 2012 has seen the "real terms" price slightly slip back due to the continued high level of general inflation, although the nominal 5-year increase of 52.6% exceeds even 2000.
Since the beginning of March, a further rise in the oil price combined with the threat of a tanker drivers' strike has seen another spike in pump prices, with my most recent fill-up being at a record 649.6p/gallon (142.9p/litre).
Of the March 2012 price of 134.1p/litre, 80.3p or 59.9% went to the government (57.95p fuel duty and 22.35p VAT).
For information about current fuel prices in your local area, take a look at PetrolPrices.com.
| Petrol Prices 1983-2012 | |||||
| Year | Price per Litre (p) | Price per Gallon (£) |
Retail Prices Index |
Petrol Price in constant terms (1983=100) |
5-year % increase ¶ |
| 1983 | 36.7 | 1.670 | 83.1 | 100.0 | - |
| 1984 | 38.7 | 1.759 | 87.5 | 100.0 | - |
| 1985 | 42.8 | 1.946 | 92.8 | 104.3 | - |
| 1986 | 38.2 | 1.737 | 96.7 | 89.4 | - |
| 1987 | 37.8 | 1.719 | 100.6 | 85.0 | - |
| 1988 | 34.7 | 1.578 | 104.1 | 75.4 | -5.5 |
| 1989 | 38.4 | 1.746 | 112.3 | 77.4 | -0.7 |
| 1990 | 40.2 | 1.828 | 121.4 | 74.9 | -6.1 |
| 1991 | 39.5 | 1.796 | 131.4 | 68.0 | 3.4 |
| 1992 | 40.3 | 1.832 | 136.7 | 66.7 | 6.6 |
| 1993 | 45.9 | 2.087 | 139.3 | 74.6 | 32.3 |
| 1994 | 48.9 | 2.223 | 133.1 | 77.6 | 27.3 |
| 1995 | 50.9 | 2.314 | 147.5 | 78.1 | 26.6 |
| 1996 | 52.9 | 2.405 | 151.5 | 79.0 | 33.9 |
| 1997 | 57.9 | 2.632 | 155.4 | 84.3 | 43.7 |
| 1998 | 60.9 | 2.769 | 160.8 | 85.7 | 32.7 |
| 1999 | 61.9 | 2.814 | 164.1 | 85.3 | 26.6 |
| 2000 | 76.9 | 3.496 | 168.4 | 103.3 | 51.1 |
| 2001 | 77.9 | 3.541 | 173.1 | 101.8 | 47.2 |
| 2002 | 69.9 | 3.178 | 174.5 | 90.6 | 20.7 |
| 2003 | 77.9 | 3.541 | 179.9 | 98.0 | 27.9 |
| 2004 | 77.9 | 3.541 | 184.6 | 95.5 | 25.8 |
| 2005 | 79.9 | 3.632 | 190.5 | 95.0 | 3.9 |
| 2006 | 88.9 | 4.041 | 195.0 | 103.2 | 14.1 |
| 2007 | 87.9 | 3.996 | 204.4 | 97.4 | 25.6 |
| 2008 | 103.9 | 4.723 | 212.1 | 110.9 | 33.4 |
| 2009 | 89.9 | 4.087 | 211.3 | 96.2 | 15.4 |
| 2010 | 111.9 | 5.087 | 220.7 | 114.8 | 40.1 |
| 2011 | 129.9 | 5.905 | 232.5 | 126.5 | 46.1 |
| 2012 | 134.1 | 6.096 | 240.8 | 126.1 | 52.6 |
¶ Note: this column represents the % increase over 5 years in the non inflation adjusted petrol price.
(Last updated April 2012)