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Transport fuel prices and taxes

Indicator Assessment
Prod-ID: IND-114-en
Also known as: TERM 021
Created 08 Nov 2017 Published 01 Dec 2017 Last modified 01 Dec 2017
12 min read
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Topics: ,
Since 1980, the real price (including taxes) of transport fuel* has fluctuated between EUR 0.75 and 1.25 per litre, with an average of EUR 0.97. Real prices per litre peaked in July 2008, reaching EUR 1.24, but then fell by around one third later that year, largely due to a significant drop in the price of crude oil. Another peak occurred in August 2012, when fuel prices reached EUR 1.25. Since then fuel prices have fallen again, reaching EUR 0.84 in February 2016. The first months of 2017 show a decreasing trend. The average real price in May 2017 was EUR 0.94. The price of fuel is an important determinant of the demand for transport and the efficiency with which fuel is used. However, despite a slight increase in real prices over the last two decades, transport demand has increased even more. The price of transport fuel without taxes follows a similar trend; since 1980, it has fluctuated between EUR 0.18 and 0.65 per litre, with an average of EUR 0.38. Real prices per litre peaked in June 2008, but then fell by around one third later that year, largely because of a significant drop in the price of crude oil. Another peak occurred in September 2012, when fuel prices reached EUR 0.63. Since then, fuel prices have fallen again, reaching EUR 0.28 in February 2016. The first months of 2017 show a decreasing trend. The average real price in May 2017 was EUR 0.37.

Key messages

  • Since 1980, the real price (including taxes) of transport fuel* has fluctuated between EUR 0.75 and 1.25 per litre, with an average of EUR 0.97. Real prices per litre peaked in July 2008, reaching EUR 1.24, but then fell by around one third later that year, largely due to a significant drop in the price of crude oil. Another peak occurred in August 2012, when fuel prices reached EUR 1.25. Since then fuel prices have fallen again, reaching EUR 0.84 in February 2016. The first months of 2017 show a decreasing trend. The average real price in May 2017 was EUR 0.94. The price of fuel is an important determinant of the demand for transport and the efficiency with which fuel is used. However, despite a slight increase in real prices over the last two decades, transport demand has increased even more.
  • The price of transport fuel without taxes follows a similar trend; since 1980, it has fluctuated between EUR 0.18 and 0.65 per litre, with an average of EUR 0.38. Real prices per litre peaked in June 2008, but then fell by around one third later that year, largely because of a significant drop in the price of crude oil. Another peak occurred in September 2012, when fuel prices reached EUR 0.63. Since then, fuel prices have fallen again, reaching EUR 0.28 in February 2016. The first months of 2017 show a decreasing trend. The average real price in May 2017 was EUR 0.37.

Are fuel prices leading to decreased pressures on the environment?

Nominal and real fuel prices

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