PumpIndex

2003 to 2026 · official weekly averages · 33 events in 7 eras

What moved the price of fuel: a timeline since 2003

The UK average petrol and diesel price for every week since 9 June 2003, with the wars, crises, oil shocks, Budgets and governments that moved it. Read it one era at a time below, or look at the whole run in one chart. Hover over the chart to see any week, and use the filters to show one kind of event at a time.

74.6ppetrol, 9 Jun 2003
173.5ppetrol, 28 Sep 2026+98.9p in 23 years
191.6precord petrolweek of 4 Jul 2022
74.2plowest petrolweek of 14 Jul 2003

The whole run, 2003 to 2026

Hover to see a week. Click a marker to jump to that event. The shading shows which party was in government.

Tony BlairGordon BrownDavid CameronCameronTheresa MayBoris JohnsonSunakStarmer70p90p110p130p150p170p190p20042006200820102012201420162018202020222024202611. Fuel duty up to 47.1p (6 Oct 2003): petrol 76.4p22. Hurricane Katrina hits the US Gulf refineries (29 Aug 2005): petrol 91.4p33. Fuel duty up to 48.4p (11 Dec 2006): petrol 87.4p44. Fuel duty up to 50.4p (1 Oct 2007): petrol 96.4p55. Crude oil peaks at $147 a barrel (11 Jul 2008): petrol 119.3p66. Lehman Brothers collapses and the financial crisis begins (15 Sep 2008): petrol 112.5p77. Fuel duty up to 52.4p (1 Dec 2008): petrol 91.5p88. VAT cut to 15.0% (1 Dec 2008): petrol 91.5p99. Fuel duty up to 54.2p (6 Apr 2009): petrol 93.7p1010. Fuel duty up to 56.2p (7 Sep 2009): petrol 106.9p1111. VAT up to 17.5% (4 Jan 2010): petrol 109.3p1212. Fuel duty up to 57.2p (5 Apr 2010): petrol 119.3p1313. Fuel duty up to 58.2p (4 Oct 2010): petrol 116.0p1414. Fuel duty up to 59.0p (3 Jan 2011): petrol 124.9p1515. VAT up to 20.0% (10 Jan 2011): petrol 127.4p1616. The Arab Spring reaches Libya (17 Feb 2011): petrol 128.7p1717. Budget: fuel duty cut by 1p and the escalator scrapped (23 Mar 2011): petrol 133.1p1818. Fuel duty cut to 58.0p (28 Mar 2011): petrol 132.4p1919. Tanker drivers threaten to strike and panic buying follows (28 Mar 2012): petrol 139.5p2020. OPEC refuses to cut output and the oil price collapses (27 Nov 2014): petrol 122.3p2121. Brexit referendum: the pound falls (23 Jun 2016): petrol 111.2p2222. COVID-19 lockdown (23 Mar 2020): petrol 119.6p2323. 2030 end date announced for new petrol and diesel car sales (18 Nov 2020): petrol 112.4p2424. E10 becomes the standard petrol in Great Britain (1 Sep 2021): petrol 134.7p2525. Lorry driver shortage: forecourts run dry (24 Sep 2021): petrol 134.9p2626. Russia invades Ukraine (24 Feb 2022): petrol 147.8p2727. Spring Statement: fuel duty cut by 5p (23 Mar 2022): petrol 165.4p2828. Fuel duty cut to 53.0p (28 Mar 2022): petrol 162.7p2929. CMA fuel market study: margins up, and a price scheme recommended (7 Jul 2023): petrol 143.4p3030. Ban on new petrol and diesel cars delayed to 2035 (20 Sep 2023): petrol 154.1p3131. Fuel Finder registration opens (18 Dec 2025): petrol 136.8p3232. Fuel Finder goes live: price reporting becomes compulsory (2 Feb 2026): petrol 131.6p3333. Conflict in the Middle East pushes wholesale prices up (28 Feb 2026): petrol 131.7p
  • Petrol
  • Diesel
  • Labour
  • Conservative
  • Coalition

Era 1 of 7 · 2003 to 2008

The long climb

Demand from China, a weak dollar and no spare oil took crude from $30 to $147 a barrel. Duty went up in small yearly steps. Hurricane Katrina gave the first shock. Unleaded passed 90p in 2005 and £1 in 2007.

74.6p → 119.3ppetrol, start to end of era (+44.7p)
119.3phigh, week of 7 Jul 2008
74.2plow, week of 14 Jul 2003
5events in this era
Tony BlairGordon Brown80p100p120p20042005200620072008Duty up to 47.1p1. Fuel duty up to 47.1p (6 Oct 2003): petrol 76.4pKatrina hits the US Gulf…2. Hurricane Katrina hits the US Gulf refineries (29 Aug 2005): petrol 91.4pDuty up to 48.4p3. Fuel duty up to 48.4p (11 Dec 2006): petrol 87.4pDuty up to 50.4p4. Fuel duty up to 50.4p (1 Oct 2007): petrol 96.4pCrude oil peaks at $1475. Crude oil peaks at $147 a barrel (11 Jul 2008): petrol 119.3p
  • 1
    6 October 2003 · Duty and VAT

    Fuel duty up to 47.1p

    Duty moved from 45.8p to 47.1p a litre on both petrol and diesel, +1.3p (about +1.5p at the pump with VAT).

    Petrol 76.4p → 75.9p three months on (−0.6p)
    Diesel 77.7p → 77.5p (−0.1p)

  • 2
    29 August 2005 · Conflict

    Hurricane Katrina hits the US Gulf refineries

    A quarter of US refining capacity shut down. Wholesale petrol prices jumped around the world, and UK unleaded went over 90p a litre for the first time that September.

    Petrol 91.4p → 87.4p three months on (−4.1p)
    Diesel 95.3p → 91.8p (−3.5p)

  • 3
    11 December 2006 · Duty and VAT

    Fuel duty up to 48.4p

    Duty moved from 47.1p to 48.4p a litre on both petrol and diesel, +1.2p (about +1.5p at the pump with VAT).

    Petrol 87.4p → 87.7p three months on (+0.3p)
    Diesel 93.0p → 91.6p (−1.4p)

  • 4
    1 October 2007 · Duty and VAT

    Fuel duty up to 50.4p

    Duty moved from 48.4p to 50.4p a litre on both petrol and diesel, +2.0p (about +2.4p at the pump with VAT).

    Petrol 96.4p → 102.7p three months on (+6.3p)
    Diesel 98.5p → 107.6p (+9.1p)

  • 5
    11 July 2008 · Oil market

    Crude oil peaks at $147 a barrel

    The end of a five-year climb driven by demand from China and a weak dollar. Diesel was in short supply in Europe and its price pulled well clear of petrol.

    Petrol 119.3p → 109.5p three months on (−9.8p)
    Diesel 132.6p → 121.1p (−11.4p)

Era 2 of 7 · 2008 to 2010

Crash and recovery

The financial crisis took oil to under $40 a barrel within five months, and pump prices fell by a third. Duty went up and VAT was cut to 15% in the same period. Prices climbed back through 2009 as fast as they had fallen.

119.4p → 121.3ppetrol, start to end of era (+1.9p)
121.3phigh, week of 10 May 2010
85.4plow, week of 5 Jan 2009
7events in this era
Gordon Brown90p100p110p120p130pJul 2008Jan 2009Jul 2009Jan 2010Lehman Brothers collapses…6. Lehman Brothers collapses and the financial crisis begins (15 Sep 2008): petrol 112.5pDuty up to 52.4p7. Fuel duty up to 52.4p (1 Dec 2008): petrol 91.5pVAT cut to 15.0%8. VAT cut to 15.0% (1 Dec 2008): petrol 91.5pDuty up to 54.2p9. Fuel duty up to 54.2p (6 Apr 2009): petrol 93.7pDuty up to 56.2p10. Fuel duty up to 56.2p (7 Sep 2009): petrol 106.9pVAT up to 17.5%11. VAT up to 17.5% (4 Jan 2010): petrol 109.3pDuty up to 57.2p12. Fuel duty up to 57.2p (5 Apr 2010): petrol 119.3p
  • 6
    15 September 2008 · Economy

    Lehman Brothers collapses and the financial crisis begins

    Oil fell from $147 to under $40 by December as the world economy stalled. UK pump prices dropped by about a third in six months.

    Petrol 112.5p → 89.1p three months on (−23.4p)
    Diesel 124.1p → 101.2p (−22.9p)

  • 7
    1 December 2008 · Duty and VAT

    Fuel duty up to 52.4p

    Duty moved from 50.4p to 52.4p a litre on both petrol and diesel, +2.0p (about +2.4p at the pump with VAT).

    Petrol 91.5p → 90.3p three months on (−1.1p)
    Diesel 106.6p → 100.8p (−5.8p)

  • 8
    1 December 2008 · Duty and VAT

    VAT cut to 15.0%

    VAT on fuel moved from 17.5% to 15.0%, worth about −2.0p a litre at the time.

    Petrol 91.5p → 90.3p three months on (−1.1p)
    Diesel 106.6p → 100.8p (−5.8p)

  • 9
    6 April 2009 · Duty and VAT

    Fuel duty up to 54.2p

    Duty moved from 52.4p to 54.2p a litre on both petrol and diesel, +1.8p (about +2.2p at the pump with VAT).

    Petrol 93.7p → 103.6p three months on (+9.8p)
    Diesel 102.1p → 105.1p (+3.0p)

  • 10
    7 September 2009 · Duty and VAT

    Fuel duty up to 56.2p

    Duty moved from 54.2p to 56.2p a litre on both petrol and diesel, +2.0p (about +2.4p at the pump with VAT).

    Petrol 106.9p → 108.6p three months on (+1.8p)
    Diesel 107.3p → 109.9p (+2.6p)

  • 11
    4 January 2010 · Duty and VAT

    VAT up to 17.5%

    VAT on fuel moved from 15.0% to 17.5%, worth about +2.3p a litre at the time.

    Petrol 109.3p → 117.3p three months on (+7.9p)
    Diesel 111.1p → 118.2p (+7.1p)

  • 12
    5 April 2010 · Duty and VAT

    Fuel duty up to 57.2p

    Duty moved from 56.2p to 57.2p a litre on both petrol and diesel, +1.0p (about +1.2p at the pump with VAT).

    Petrol 119.3p → 117.9p three months on (−1.4p)
    Diesel 120.1p → 120.4p (+0.4p)

Era 3 of 7 · 2010 to 2014

The record years

VAT went up to 20%, the Arab Spring pushed oil up, and a duty freeze came too late to stop new records. Petrol passed 140p in April 2012 after a minister told people to fill jerry cans and forecourts ran dry. Prices then drifted for two years.

121.3p → 130.1ppetrol, start to end of era (+8.8p)
142.2phigh, week of 16 Apr 2012
114.6plow, week of 6 Sep 2010
7events in this era
David Cameron110p120p130p140p150p2011201220132014Duty up to 58.2p13. Fuel duty up to 58.2p (4 Oct 2010): petrol 116.0pDuty up to 59.0p14. Fuel duty up to 59.0p (3 Jan 2011): petrol 124.9pVAT up to 20.0%15. VAT up to 20.0% (10 Jan 2011): petrol 127.4pThe Arab Spring reaches Libya16. The Arab Spring reaches Libya (17 Feb 2011): petrol 128.7pBudget: fuel duty cut by 1p…17. Budget: fuel duty cut by 1p and the escalator scrapped (23 Mar 2011): petrol 133.1pDuty cut to 58.0p18. Fuel duty cut to 58.0p (28 Mar 2011): petrol 132.4pTanker drivers threaten to…19. Tanker drivers threaten to strike and panic buying follows (28 Mar 2012): petrol 139.5p
  • 13
    4 October 2010 · Duty and VAT

    Fuel duty up to 58.2p

    Duty moved from 57.2p to 58.2p a litre on both petrol and diesel, +1.0p (about +1.2p at the pump with VAT).

    Petrol 116.0p → 124.9p three months on (+8.8p)
    Diesel 119.0p → 129.1p (+10.1p)

  • 14
    3 January 2011 · Duty and VAT

    Fuel duty up to 59.0p

    Duty moved from 58.2p to 59.0p a litre on both petrol and diesel, +0.8p (about +0.9p at the pump with VAT).

    Petrol 124.9p → 132.4p three months on (+7.6p)
    Diesel 129.1p → 139.0p (+9.9p)

  • 15
    10 January 2011 · Duty and VAT

    VAT up to 20.0%

    VAT on fuel moved from 17.5% to 20.0%, worth about +2.7p a litre at the time.

    Petrol 127.4p → 132.8p three months on (+5.4p)
    Diesel 131.6p → 139.5p (+7.9p)

  • 16
    17 February 2011 · Conflict

    The Arab Spring reaches Libya

    Libya's oil exports stopped and Brent crude went over $120 by April 2011. UK petrol set new records through the spring.

    Petrol 128.7p → 136.4p three months on (+7.7p)
    Diesel 133.7p → 141.5p (+7.8p)

  • 17
    23 March 2011 · Law and policy

    Budget: fuel duty cut by 1p and the escalator scrapped

    George Osborne's "fair fuel stabiliser" cancelled the planned above-inflation rises. Duty stayed at 57.95p for the next eleven years. Source.

    Petrol 133.1p → 136.0p three months on (+2.9p)
    Diesel 139.5p → 140.1p (+0.5p)

  • 18
    28 March 2011 · Duty and VAT

    Fuel duty cut to 58.0p

    Duty moved from 59.0p to 58.0p a litre on both petrol and diesel, −1.0p (about −1.2p at the pump with VAT).

    Petrol 132.4p → 134.9p three months on (+2.4p)
    Diesel 139.0p → 138.8p (−0.3p)

  • 19
    28 March 2012 · Forecourts

    Tanker drivers threaten to strike and panic buying follows

    A minister told people to keep a jerry can in the garage, and forecourts ran dry. Petrol hit a new record in early April 2012.

    Petrol 139.5p → 131.6p three months on (−7.9p)
    Diesel 146.6p → 137.2p (−9.4p)

Era 4 of 7 · 2014 to 2016

The oil collapse

US shale oil flooded the market and OPEC refused to cut output. Brent crude fell from $115 to under $30 a barrel. UK petrol went back to about £1 a litre. Duty stayed frozen the whole time.

130.7p → 111.2ppetrol, start to end of era (−19.5p)
131.1phigh, week of 14 Jul 2014
101.4plow, week of 1 Feb 2016
1events in this era
David CameronDavid Cameron100p110p120p130p140pJul 2014Jan 2015Jul 2015Jan 2016Jul 2016OPEC refuses to cut output…20. OPEC refuses to cut output and the oil price collapses (27 Nov 2014): petrol 122.3p
  • 20
    27 November 2014 · Oil market

    OPEC refuses to cut output and the oil price collapses

    US shale oil was flooding the market, and Saudi Arabia chose to keep its market share rather than hold the price up. Brent fell from $115 in June 2014 to under $30 in January 2016. UK petrol went back to about £1 a litre.

    Petrol 122.3p → 108.3p three months on (−14.0p)
    Diesel 127.2p → 115.7p (−11.4p)

Era 5 of 7 · 2016 to 2020

Brexit to lockdown

The pound fell 15% after the referendum, which made fuel cost more because it is bought in dollars. Oil climbed back to $80 by 2018. Then COVID cut demand in half and, for one day, the US oil price went below zero.

111.4p → 112.4ppetrol, start to end of era (+0.9p)
131.0phigh, week of 22 Oct 2018
104.9plow, week of 25 May 2020
2events in this era
Theresa MayBoris Johnson100p110p120p130p140p2017201820192020Brexit21. Brexit referendum: the pound falls (23 Jun 2016): petrol 111.2pCOVID-19 lockdown22. COVID-19 lockdown (23 Mar 2020): petrol 119.6p
  • 21
    23 June 2016 · Economy

    Brexit referendum: the pound falls

    The pound dropped about 15% against the dollar. Fuel is bought in dollars, so this added several pence a litre over the following year even though the oil price hardly moved.

    Petrol 111.2p → 111.3p three months on (+0.1p)
    Diesel 112.3p → 113.2p (+0.9p)

  • 22
    23 March 2020 · Economy

    COVID-19 lockdown

    Demand for road fuel halved. On 20 April 2020 the US oil price briefly went below zero. In May, UK petrol fell to its lowest since 2016.

    Petrol 119.6p → 107.1p three months on (−12.5p)
    Diesel 123.4p → 113.0p (−10.4p)

Era 6 of 7 · 2020 to 2023

Ukraine and the record

Demand came back faster than supply. A shortage of lorry drivers emptied forecourts in September 2021. Then Russia invaded Ukraine and diesel hit a record in July 2022. A 5p duty cut made little difference against a 40p rise.

112.4p → 143.4ppetrol, start to end of era (+31.0p)
191.6phigh, week of 4 Jul 2022
112.4plow, week of 23 Nov 2020
6events in this era
Boris JohnsonRishi Sunak120p140p160p180p200p2021202220232030 end date announced for…23. 2030 end date announced for new petrol and diesel car sales (18 Nov 2020): petrol 112.4pE10 becomes the standard…24. E10 becomes the standard petrol in Great Britain (1 Sep 2021): petrol 134.7pLorry driver shortage25. Lorry driver shortage: forecourts run dry (24 Sep 2021): petrol 134.9pRussia invades Ukraine26. Russia invades Ukraine (24 Feb 2022): petrol 147.8pSpring Statement27. Spring Statement: fuel duty cut by 5p (23 Mar 2022): petrol 165.4pDuty cut to 53.0p28. Fuel duty cut to 53.0p (28 Mar 2022): petrol 162.7p
  • 23
    18 November 2020 · Law and policy

    2030 end date announced for new petrol and diesel car sales

    The Ten Point Plan brought the ban forward from 2040. It was pushed back to 2035 in September 2023, then put back to 2030 for cars that run only on petrol or diesel in 2025. Source.

    Petrol 112.4p → 120.5p three months on (+8.2p)
    Diesel 117.1p → 125.0p (+7.9p)

  • 24
    1 September 2021 · Law and policy

    E10 becomes the standard petrol in Great Britain

    Normal unleaded went from 5% to up to 10% renewable ethanol. E5 carried on only as the super unleaded grade. Northern Ireland made the switch in November 2022. Source.

    Petrol 134.7p → 147.5p three months on (+12.9p)
    Diesel 137.1p → 151.3p (+14.2p)

  • 25
    24 September 2021 · Forecourts

    Lorry driver shortage: forecourts run dry

    BP warned it could not deliver to all its forecourts. Two weeks of panic buying followed. Prices barely moved, but a third of forecourts ran out of fuel.

    Petrol 134.9p → 145.2p three months on (+10.3p)
    Diesel 137.4p → 148.9p (+11.5p)

  • 26
    24 February 2022 · Conflict

    Russia invades Ukraine

    Russia was Europe's biggest outside supplier of diesel, and its exports were sanctioned. Wholesale diesel prices surged. UK pump prices set records in early July 2022 that stood until 2026.

    Petrol 147.8p → 167.6p three months on (+19.8p)
    Diesel 152.0p → 181.2p (+29.2p)

  • 27
    23 March 2022 · Law and policy

    Spring Statement: fuel duty cut by 5p

    The cut was meant to last a year. It has been kept at every Budget since. With VAT, it saves 6p a litre at the pump. Source.

    Petrol 165.4p → 186.9p three months on (+21.5p)
    Diesel 177.5p → 194.9p (+17.4p)

  • 28
    28 March 2022 · Duty and VAT

    Fuel duty cut to 53.0p

    Duty moved from 58.0p to 53.0p a litre on both petrol and diesel, −5.0p (about −6.0p at the pump with VAT).

    Petrol 162.7p → 190.9p three months on (+28.3p)
    Diesel 176.4p → 198.9p (+22.5p)

Era 7 of 7 · 2023 to now

Fuel Finder

The CMA found that retailers had raised their margins and recommended an open-data price scheme. Fuel Finder made price reporting compulsory from February 2026, which is where this site's own daily data starts. Conflict in the Middle East then pushed prices up again.

142.9p → 173.5ppetrol, start to end of era (+30.6p)
173.5phigh, week of 28 Sep 2026
131.4plow, week of 9 Jun 2025
5events in this era
Rishi SunakKeir Starmer140p160p180p200p202420252026CMA fuel market study29. CMA fuel market study: margins up, and a price scheme recommended (7 Jul 2023): petrol 143.4pBan on new petrol and diesel…30. Ban on new petrol and diesel cars delayed to 2035 (20 Sep 2023): petrol 154.1pFuel Finder registration opens31. Fuel Finder registration opens (18 Dec 2025): petrol 136.8pFuel Finder goes live32. Fuel Finder goes live: price reporting becomes compulsory (2 Feb 2026): petrol 131.6pConflict in the Middle East…33. Conflict in the Middle East pushes wholesale prices up (28 Feb 2026): petrol 131.7p
  • 29
    7 July 2023 · Law and policy

    CMA fuel market study: margins up, and a price scheme recommended

    The Competition and Markets Authority found that supermarkets had added about 6p a litre to their profit margins since 2019. It recommended a legal open-data price scheme, which became Fuel Finder. Source.

    Petrol 143.4p → 156.0p three months on (+12.6p)
    Diesel 145.5p → 162.2p (+16.6p)

  • 30
    20 September 2023 · Law and policy

    Ban on new petrol and diesel cars delayed to 2035

    Rishi Sunak pushed the 2030 end date back five years. The rules making car makers sell more electric cars kept their 2024 start.

    Petrol 154.1p → 141.5p three months on (−12.6p)
    Diesel 158.2p → 150.4p (−7.8p)

  • 31
    18 December 2025 · Law and policy

    Fuel Finder registration opens

    The Motor Fuel Price (Open Data) Regulations 2025 required every forecourt to sign up to the new price reporting service. Source.

    Petrol 136.8p → 140.3p three months on (+3.4p)
    Diesel 146.1p → 158.8p (+12.6p)

  • 32
    2 February 2026 · Law and policy

    Fuel Finder goes live: price reporting becomes compulsory

    Every forecourt must now report each price change within 30 minutes. The data on this site starts here. The CMA began enforcing the rules on 1 May 2026. Source.

    Petrol 131.6p → 157.0p three months on (+25.4p)
    Diesel 140.8p → 189.8p (+49.0p)

  • 33
    28 February 2026 · Conflict

    Conflict in the Middle East pushes wholesale prices up

    Fighting from late February 2026 disrupted oil exports from the Gulf. UK pump prices rose by about 19p over the following months, with diesel hit hardest again.

    Petrol 131.7p → 158.8p three months on (+27.1p)
    Diesel 141.5p → 185.1p (+43.6p)

Prices under each government

The weekly average price when each prime minister took office and when they left. Governments set duty and VAT. Everything else comes from the oil market and the value of the pound.

GovernmentFromToPetrol startPetrol endChangeDiesel startDiesel endChange
Labour: Tony BlairBlair's second and third terms. The fuel duty escalator had been scrapped after the fuel protests of 2000. Duty went up only with inflation, and was frozen when oil prices spiked.9 Jun 200327 Jun 2007 74.6p96.5p+22.0p 76.8p97.1p+20.4p
Labour: Gordon BrownBrown's time in office covered the 2008 oil spike, the financial crisis and a short cut in VAT to 15%.27 Jun 200711 May 2010 96.5p121.3p+24.8p 97.1p122.8p+25.7p
Conservative and Lib Dem coalition: David CameronGeorge Osborne raised VAT to 20% in January 2011. That March he cut duty by 1p and scrapped the escalator. Duty then stayed at 57.95p for years.11 May 20108 May 2015 121.3p114.3p−7.0p 122.8p120.0p−2.8p
Conservative: David CameronOil fell to under $30 a barrel in early 2016 and petrol dropped back to about £1 a litre. The Brexit vote ended this government.8 May 201513 Jul 2016 114.3p111.9p−2.4p 120.0p113.1p−6.9p
Conservative: Theresa MayThe pound fell after the referendum. Fuel is bought in dollars, so that pushed up the cost of fuel. Duty stayed frozen.13 Jul 201624 Jul 2019 111.9p127.8p+15.9p 113.1p132.2p+19.1p
Conservative: Boris JohnsonThe COVID lockdown, the 2021 fuel supply crisis, the switch to E10, and record prices after Russia invaded Ukraine. Duty was cut by 5p in March 2022.24 Jul 20196 Sep 2022 127.8p168.9p+41.1p 132.2p182.8p+50.6p
Conservative: Liz TrussForty-nine days in office. Prices were already falling from the July 2022 record.6 Sep 202225 Oct 2022 168.9p164.6p−4.3p 182.8p187.3p+4.5p
Conservative: Rishi SunakThe 5p duty cut was kept each year. The CMA's study of the fuel market led to the Fuel Finder price scheme.25 Oct 20225 Jul 2024 164.6p144.3p−20.3p 187.3p150.1p−37.2p
Labour: Keir StarmerFuel Finder went live in February 2026. From then on every forecourt has had to report its prices.5 Jul 2024now 144.3p173.5p+29.2p 150.1p197.6p+47.5p

Common questions

Which prime minister saw the highest fuel prices?

The record weekly average was 191.6p for petrol in the week of 4 Jul 2022 and 199.2p for diesel in the week of 4 Jul 2022. That was under Conservative: Boris Johnson. The table at the bottom of the page shows the price when each prime minister since 2003 started and finished. Governments set duty and VAT. The ups and downs in between come from the oil market and the value of the pound.

What caused the biggest fuel price rises?

The three biggest rises since 2003 were the oil spike of 2007 and 2008, when crude hit $147 a barrel; the rise from 2010 to 2012 after the Arab Spring, which came on top of VAT going up to 20%; and Russia's invasion of Ukraine in 2022, which took diesel to 199.2p. The biggest falls came after the 2008 financial crisis, the oil collapse of 2014 to 2016, and the 2020 lockdown, when petrol fell to 74.2p in the week of 14 Jul 2003.

How much of the movement is tax?

Duty rose from 45.8p in 2003 to 57.95p by 2011. It was then frozen for eleven years and cut by 5p in March 2022. VAT went from 17.5% down to 15% in 2008, back to 17.5% in 2010 and up to 20% in 2011. Every one of those changes is marked when you pick the 'Duty and VAT' filter above. Together they explain about 15p of the rise since 2003. The rest is the price of oil and the value of the pound.

Sources: DESNZ weekly road fuel prices (Open Government Licence v3.0) for every price, duty rate and VAT rate; event dates from the public record. The era summaries are ours. Governments are dated from the day the prime minister took office. Something wrong or missing? Tell us.