Diesel and petrol prices affect all of us both directly and indirectly. It is a vital commodity to the modern world. Here at TrackCompare we monitor and record the average price of petrol and diesel in the UK and the exact price of crude oil on a weekly basis.
When you look at this data over the past 2½ years and compare it to the fuel prices in the US, it paints an interesting picture.
To compare the prices in this infographic all prices are in sterling and the measurement of volume is in litres. We have converted US currency figures using relative historic exchange rates and converted gallons into litres so that you can compare apples for apples.
Feel free to use this infographic on your website. You can simply use the embed code below:
<a href=”http://quotingbusiness.co.uk/wp-content/uploads/2015/09/Fuel-Price-UK-vs-USA.png”><img src=”http://quotingbusiness.co.uk/wp-content/uploads/2015/09/Fuel-Price-UK-vs-USA.png” alt=”Diesel and petrol prices” width=”600″ border=”0″ /></a><div style=”margin: 0 0 10px 0″>Created by <a href=”http://www.trackcompare.co.uk/diesel-petrol-prices-uk-vs-usa”>TrackCompare</a></div>
This graphic clearly shows the vast difference in fuel prices between the UK and the US.
Over the past 2½ years diesel prices in the States are on average 54% lower than they are in the UK and petrol prices are on average 43% lower in the US.
The reason it is so much cheaper to fill up in the States is they pay less than a ¼ of the tax we pay on our fuel.
You can see from the infographic the peaks and troughs of the fuel prices in the two countries are usually mirrored by each other to a certain extent. But last year you will notice the US prices bucked this trend when fuel prices began to drop in the UK in August 2014, the US fuel prices did not follow suit and did not begin to drop until the beginning of December. In this four month period between August and December, UK diesel prices dropped an average of 11p per litre compared to US diesel prices which kept steady at between 60p and 62p per litre.
In this period the big drop in fuel prices in both the UK and the USA are also mirrored by a drop in Brent Crude Oil prices. Between 23/6/2014 and 26/1/2015 Brent Crude Oil decreased in value by 58.25%, UK diesel prices decreased by 16.18% and US diesel prices decreased by 18.04%. Read our article, “Why do diesel and petrol prices keep falling?”, to find out why.
It’s remarkable that we did not see anywhere near the same drop in price at the pump as we did in the value of Brent Crude Oil.