As diesel prices are per litre and natural gas prices are per kilogram, comparing the prices of the two is not a straightforward process. We have considered the energy content of both products, as well as their engine efficiency differences, to create a Diesel Litre Equivalence (DLE) for natural gas. This allows you to compare the prices of the two fuels as if they were both diesel.
The weekly price evolution, monthly price evolution and yearly price evolution are an average based on all countries listed above.
What is the average price of diesel and gas fuels?
There have recently been calls to investigate the fuel market, as significant variations and differences in diesel and petrol prices have been seen between local service stations. In most of Europe, a steady increase in oil prices is seen across the board. Here is a breakdown of current costs per litre and the increase in cents.
Why are fuel prices different from country to country?
Fuel pricing differs substantially from country to country. Usually, countries such as Russia and Saudi Arabia that produce crude oil and export it to the rest of the world have dramatically lower fuel prices. Developing countries also often have a lower average fuel price whereas more affluent countries generally have higher fuel prices. The most significant contributing factor to the variation in fuel prices is fuel tax, as well as emissions regulations. For instance, in the European Union, emissions regulations take a solid approach to reducing emissions by up to 43% by 2030, which is reflected in the fuel price.
Where can I find historical fuel prices?
The fuel price increases seen so far in 2022 are historic. The United Kingdom, for example, has experienced the most considerable unleaded petroleum price increase in 18 years. Tracking and analysing historical gas prices is an effective method of putting price changes into context. As an IRU member, you can get full access to a list that contains 10 years of historical oil prices in over 65 countries. Not only can you analyse data for a specific country, but you can also choose from up to five countries to compare in your currency of choice. In such a volatile market, petrol prices and diesel prices change rapidly. One benefit of using our historical list is that prices are updated weekly, meaning it remains accurate and current. Analysis of historical gas prices is essential for planning and preparation for potential operational problems. Besides ensuring adequate fuel quality and quantity can be satisfied, it also helps to establish operations, including fuel consumption, in the most efficient manner.
Why do fuel prices fluctuate?
There is a combination of factors that are related to the current fuel price hike. Firstly, we are seeing the highest rates of inflation globally than we have for around 40 years. The rise in inflation has also led to a weak exchange rate between the US dollar and the UK pound sterling, making matters worse. Another factor contributing to the record high fuel price is the volatile political situation, leading to fuel supply issues. The imbalance between gasoline supply and demand influences global crude oil prices enormously. Due to a more complex production process, diesel has always been more expensive, on average, than unleaded petroleum. This historical pattern was broken back in 2015 when supply and demand problems meant that there was a surplus of diesel, leading to lower prices in comparison to petrol in the United Kingdom. Fluctuation in prices is also affected by environment and seasonable changes. Regional prices are impacted mainly by market competition, meaning that bigger towns and cities often have cheaper fuel prices while motorways and more isolated areas have much higher prices.