In this section you will find information related to petrol, diesel and oil prices, and levels of fuel taxation.

Competition and Markets Authority consideration of fuel prices

Following an increase in petrol and diesel prices in early 2022, the UK Government asked the Competition and Markets Authority (CMA) to consider what had led to the increases and whether the consumer was still getting a good deal. Following an initial rapid review and subsequent, fuller consideration, in the summer of 2023, the CMA reported on its findings.

While they "did not find any deficiencies that required action in relation to the functioning of the UK market [for wholesale or refining]", there were a number of concerns raised in the retail market including:

  • [Supermarkets] taking a less aggressive approach to pricing by significantly increasing their internal margin targets for fuel over recent years
  • "Drivers have been paying more than would otherwise have been the case." With the CMA estimating "that the financial impact of the 6 pence per litre (ppl) increase in average supermarket fuel margin from 2019 to 2022 results in a combined additional cost of around £900m for customers of the four supermarket fuel retailers in 2022"
  • "Significant price differences between local areas, with lower prices typically associated with having a supermarket competitor,...though this effect has weakened since January 2022."
  • "Consumers will generally be able to make savings on fuel within a reasonable drive time, but the cheapest provider is not always consistent."

The CMA also made two recommendations to Government for change:

  1. The government should create, on a statutory basis, an open data fuel finder scheme. This would require retailers to share their prices on an open, real-time basis, meaning that drivers can easily compare prices in any area of the UK.
  2. The government should create a fuel monitor function within an appropriate public body, to monitor developments in the market, both nationally and locally, as we move through the net zero transition, provide ongoing scrutiny of prices and consider whether further action may be needed to protect consumers.

Both recommendations have been accepted along with a third suggestion to create a voluntary price reporting scheme akin to the above fuel finder scheme (but without the delay of waiting for legislation).

As such, fuel retailers have been encouraged to sign up to voluntarily report their prices daily on their own websites and provide the relevant link to the CMA via an email to It is anticipated that this increased transparency will enable customers to shop around more for the best deal in their area.

The full findings and information on the investigation by the CMA can be found: Here

More information on pump prices

The fluctuating price of fuel at the pump for petrol and diesel is the result of more than just production and distribution costs. When paying at the pump, factors at play include the crude oil price, the price of biofuels when in the fuel, delivery and distribution costs, Fuel Duty (FD), Value Added Tax (VAT), greenhouse gas obligations, development fuel obligations and forecourt costs and profits.

April 8, 2024 product prices and tax breakdown
Product price petrol (excluding VAT and Fuel Duty) 69.48 pence / litre
Product price diesel (excluding VAT and Fuel Duty) 77.29 pence / litre
VAT and Fuel Duty (petrol) 77.44 pence / litre
VAT and Fuel Duty (diesel) 79.00 pence / litre


Source: Department for Energy Security & Net Zero (DESNZ), US Energy Information Administration (EIA)



Source: Department for Energy & Net Zero (DESNZ)

Table 1: Petrol and diesel costs and increases

The information shown above for UK pump prices is based on information published by DESNZ (see link at bottom of page), Fuels Industry UK does not collect data on prices from its membership.

Brent crude is a useful indicator of crude price changes and shows broad alignment with finished product prices although UK refineries make use of a range of crude oils. DESNZ also publishes data on UK Refined Crude to provide a 'price index for supplies received by refineries in the UK from both indigenous and imported sources,' which represents the average for the month calculated in sterling.


Graphs showing oil price changes over time


Source: EIA


Source: EIA


UK Diesel Price Breakdown


UK Petrol Price Breakdown


UK Road Fuel Duty and VAT Receipts


For more information see our statistical review.



Other useful links

The source data for the figures above is found here for DESNZ and here for EIA – both are updated weekly.

The RAC Foundation publishes daily pump price changes here as well as other information on pump prices, tax revenues, and an indicative breakdown of the wholesale prices of fuels.

The AHDB also collects data on red diesel prices here.

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