Petrol Prices
Since March 1983 I have kept a detailed record of fuel prices and fuel consumption, spanning fourteen 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.
The table shows that the price of fuel in real terms is now 4% lower in March 2009 than in 1983, the oil price having fallen substantially since March 2008. However, this disguises the fact that "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 rate of Retail Price Index inflation has also fallen slightly between 2008 and 2009.
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. Also since the beginning of March 2008 there was a further sharp spike in the international oil price, with unleaded reaching a startling peak in July of 540.5p/gallon (118.9p/litre).
Of the March 2009 price of 89.9p/litre, 64.1p or 71.3% goes to the government (52.35p fuel duty and 11.7p VAT).
For information about current fuel prices in your local area, take a look at PetrolPrices.com.
| Petrol Prices 1983-2009 | |||||
| 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 |
¶ Note: this column represents the % increase over 5 years in the non inflated adjusted petrol price.
(Last updated April 2009)