Petrol and Oil Prices

The graph below shows how the average Oil Price has varied for the last 18 months, and this oil price is compared to the average price of unleaded 95 in the UK. It can be seen from the graph below that there is excellent correlation between the oil and unleaded petrol price. If the price of oil starts to rise, then so does petrol. If the oil prices fall then this drop in price gets passed on to the vehicle owners.

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Oil price for £1 per litre of Petrol?

It can easily be seen from the graph above that in order for the average price per litre of unleaded to hit £1 the price per barrel of oil needs to be around $80 for 3-4 weeks. Petrol prices are shown in red, and oil prices are shown in blue.

With the present supplies and demand for oil it is inevitable that this £1 a litre barrier will be broken.

If you are worried about petrol prices then take a look at our recent petrol price submissions , you may find that your local forecourt appears there!