Fuel price comparison July 16/ July 17
One of the most important factors to fleet industries is fuel price and even with a fuel card, these prices still fluctuate. We have decided to take a step back and look at the average fuel price for July 2016 and the average fuel price for July 2017 to create a comparison.
With supermarkets announcing that they have cut their fuel prices by 2 pence per litre (ppl), we saw an outlet for cheaper fuel and people filling up when they are getting their weekly shop, instead of traveling to the nearest petrol station where they would be paying a higher price.
Even though there was a debate about the quality of fuel between your local BP garage and your Sainsbury’s supermarket, none of the claims were supported by substantial evidence to be able to back up their statements.
In July 2016 the national average (looking at petrol stations, excluding supermarkets) for unleaded 95 octane was 112.2ppl with the cheapest average in the UK being Northern Ireland at 111.2ppl.
Diesel was only 0.5ppl more expensive than unleaded 95 at 112.7ppl. The gap between the cheapest and second cheapest region was 0.5ppl. This was between Northern Ireland as the cheapest and Wales second cheapest
Super unleaded, however, had a higher average across the UK at 122.1ppl. Unlike diesel, the gap between the cheapest and the second cheapest was greater at 2.2ppl. Northern Ireland remained cheapest, followed by Scotland.
For all fuel types the supermarkets are providing much cheaper fuel. As you can see at the bottom of the table below, the biggest difference in price between the UK average and the supermarket average is super unleaded with a difference of 7.2ppl.
In July 2017, the national average fuel price (excluding supermarkets) for unleaded 95 octane was 114.7ppl. The price rise in Northern Ireland and a drop in fuel price in the North East meant that they were level for the cheapest fuel in the UK at 113.8ppl.
The national average price for fuel was only slightly higher than the cost of unleaded 95 octane. The average cost for diesel was only 0.7ppl more expensive than unleaded 95 Octane at 115.4ppl.
Super unleaded is still more expensive by a fair margin of nearly 10ppl with a national average of 124.3ppl.
For all fuel types, the supermarkets were offering their fuel at a considerably cheaper cost that other fuel providers around the country, with savings ranging from nearly 3ppl to more than 7ppl difference.
To conclude, looking directly at the numbers, although during 2017 supermarkets announced that they would be dropping their fuel prices by 2ppl and the consistently low cost of crude oil, the cost of fuel is still more expensive than 2016. However, how much more expensive it is to buy fuel in July, 2017 compared to July, 2016?
- Unleaded 95 octane – 2.5ppl UK average and 2.2ppl supermarket average
- Diesel – 2.7ppl for both the UK average and supermarket average
- Super unleaded – 2.2ppl UK national average and 1.3ppl supermarket average
Unleaded 95 octane