On March 24, 2025, the price of ultra-low sulfur unleaded petrol (gasoline) in the United Kingdom averaged 135.61 pence per liter. This compared to 143.07 pence per liter for diesel. Diesel prices were consistently higher than petrol/gasoline prices throughout this period, although the margin varied. Reasons for such differences in pricing lie in the refining process and molecular makeup of the products, with diesel requiring more complex refining processes and being an overall heavier liquid. As motor fuel pricing in the UK is not regulated by a monitoring body, there may also be notable differences in prices between retailers and regions. Supermarkets provide lowest fuel prices in the UK In the UK, much of the motor fuel is sold through supermarkets. Large supermarkets, or hypermarkets, account for more than 40 percent of all motor fuel sales in the country. The reason for their popularity often lies in the fact that they offer lower average prices. In the last four years, regular petrol/gasoline sold at supermarkets was up to six pence per liter cheaper than the national average. How UK fuel prices compare to the rest of the world Tied as they are to crude oil prices, motor fuels are generally cheapest in major producing countries, such as Iran, Venezuela, and Russia. In Europe, costs of importing the raw or finished products, in addition to taxes and levies, may hike up pump prices significantly. The UK is often among the countries with the highest petrol/gasoline prices, alongside other large European car markets such as France and Germany.

Diesel prices in the United Kingdom rose to more than 150 pence per liter in early 2024. The March national average was 153.9 pence per liter, compared with a price of 151.3 pence per liter for diesel sold at supermarkets.

Hypermarkets dominate motor fuel sales Hypermarkets such as Sainsbury's, Asda, and Tesco have the greatest market share of motor fuel sold in the UK. In 2023, roughly 43 percent of all motor fuels were sold at hypermarkets.

Diesel more expensive than regular gasoline Although gasoline and diesel are both refined petroleum products, their refining process differs, thus also impacting manufacturing and retail prices. Diesel sold in the UK is required to have an ultra-low sulfur content and also contain a biodiesel component of seven percent. The extra steps required in the production process make diesel a more expensive commodity than gasoline, which trades around 10 pence lower.

The price of unleaded 95 octane fuel in the United Kingdom has increased significantly in 2022. In September 2022, prices reached 165.3 pence per liter. This was a decrease compared to three months prior when they had climbed to a new high. Unleaded 95 octane is the most commonly used fuel in the UK. Unlike super unleaded, which is mostly used in high performance vehicles, it is suitable for most petrol engines. It is also the cheapest fuel option, when compared to diesel fuel prices.Supermarket vs. UK averageWhen comparing prices, supermarkets are consistently the cheapest option when refueling. The gap between the two has varied, but in 2022 it has closed to just two pence per liter. In 2021, Tesco had the largest market share of motor fuel sold in the UK, at nearly 16 percent. The combined market share of Tesco, Sainsbury’s, Morrisons and Asda amounted to 43.2 percent, which is unsurprising as supermarkets offer the cheapest prices. Petrol station numbersAlthough supermarkets have a large market share of the volume of petrol sold, it is major oil and gas companies that operate the greatest number of petrol stations. By the end of 2021, the British multinational oil and gas firm BP owned 1,218 sites across the country. The combined number of petrol stations of BP, Esso and Shell amounted to nearly 43 percent of all UK outlets. In comparison, Tesco, Sainsbury’s, Morrisons and Asda operated less than 20 percent.

The price of gas in the United Kingdom was 106 British pence per therm in the fourth quarter of 2024. It is anticipated gas prices will increase to 131 pence in the second quarter of 2025 before gradually falling to just under 80 pence by the second quarter of 2027.
Surging energy costs and the cost of living crisis At the height of the UK's recent cost of living crisis in 2022, approximately 91 percent of UK households were experiencing rising prices compared with the previous month. It was during 2022 that the UK's CPI inflation rate reached a peak of 11.1 percent, in October of that year. Food and energy, in particular, were the main drivers of inflation during this period, with energy inflation reaching 26.6 percent, and food prices increasing by 18.2 percent at the height of the crisis. Global Inflation Crisis The UK was not alone in suffering rapid inflation during this time period, with several countries across the world experiencing an inflation crisis. The roots of the crisis began as the global economy gradually emerged from the COVID-19 pandemic in 2021. Blocked-up supply chains, struggled to recover as quickly as consumer demand, with food and energy prices also facing upward pressure. Russia's invasion of Ukraine in February 2022 led to Europe gradually weening itself of cheap Russian energy exports, while for several months Ukraine struggled to export crucial food supplies to the rest of the World.

In September 2022, diesel prices ranged between 178.6 and 182.2 pence per liter across UK regions. Diesel fuel prices are generally highest in London and lowest in Northern Ireland. In early 2022, the Russia-Ukraine war and trader uncertainty pushed crude oil and consequently motor fuel prices to record highs. As a result, March 2022 saw the greatest ever monthly rise in fuel prices.

The average gas price in Great Britain in January 2025 was 123.02 British pence per therm. This was 50 pence higher than the same month the year prior and follows a trend of increasing gas prices. Energy prices in the UK Energy prices in the UK were exceptionally high in 2021-2022 due to an energy supply shortage as a result of lower pipeline supplies from Norway and Russia, as well as reduced LNG imports owing to greater purchases by customers in Asia. Multiple factors such as a lack of gas storage availability and the large share of gas in heating have exacerbated the supply issue in the UK. This led to multiple suppliers announcing bankruptcy, while an upped price cap threatened energy security of numerous households. The United Kingdom has some of the highest household electricity prices worldwide. How is gas used in the UK? According to a 2023 survey conducted by the UK Department for Energy Security and Net Zero, 58 percent of respondents used gas as a heating method during the winter months. On average, household expenditure on energy from gas in the UK stood at some 24.9 billion British pounds in 2023.

Crude Oil decreased 2.12 USD/BBL or 2.95% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on March of 2025.

As of February 2025, the average annual price of Brent crude oil stood at 77.36 U.S. dollars per barrel. This is some three U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility; such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and a low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

European Union PPI: Do: EU 27 excl UK: Mfg: Coke & Refined Petroleum (CR) data was reported at 127.700 2021=100 in Jan 2025. This records an increase from the previous number of 121.500 2021=100 for Dec 2024. European Union PPI: Do: EU 27 excl UK: Mfg: Coke & Refined Petroleum (CR) data is updated monthly, averaging 85.500 2021=100 from Jan 2000 (Median) to Jan 2025, with 301 observations. The data reached an all-time high of 181.100 2021=100 in Jun 2022 and a record low of 46.000 2021=100 in Dec 2001. European Union PPI: Do: EU 27 excl UK: Mfg: Coke & Refined Petroleum (CR) data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s European Union – Table EU.I007: Eurostat: Producer Price Index: 2021=100: Domestic.

The 2025 annual OPEC oil price stood at 78.1 U.S. dollars per barrel, as of February. This would be lower than the 2024 average, which amounted to 79.86 U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2024 fall in prices was the result of weakened demand outlooks, primarily from China.

The market is growing steadily; this mainly hails from increased demand for more efficient fleet management, as well as cost-cutting solutions. By using a fuel card, an organization is empowered to trace down its consumption, easily keep record of expenditure tracking, and has stronger control over its operation of fleet, which would usually be mainly absorbed by operating expenses when it is referring to transport or logistics companies or also construction-related projects.Cards are integrated with GPS systems and mobile applications that also enhance their usability by providing real-time transaction tracking. Electric and alternative fuel vehicles are shifting the dynamics of this market; more and more providers are changing their offerings to support such transitions. The most significant threats are fraud and data security issues, which have resulted in providers developing sophisticated security measures. North America is leading the market, but Asia-Pacific is an area of promising growth due to increased industrial activities and fleet sizes. The fuel card market will continue to grow as companies place more emphasis on cost efficiency and transparency in their operations.Concentration & CharacteristicsConcentration Areas:The fuel card market is highly concentrated, with a few dominant players holding a significant market share.Key players include FLEETCOR, WEX Inc., WAG Payment Solutions PLC, B.P. PLC, and Exxon Mobil.Characteristics of Innovation:Market players are focusing on technological advancements to provide enhanced user experiences.Innovations include mobile payments, real-time tracking, and advanced fraud protection systems.Companies are also exploring partnerships with third-party service providers to offer comprehensive solutions.Impact of Regulations:Regulations governing fuel card transactions and data privacy are becoming more stringent.Companies must ensure compliance to avoid penalties and maintain customer trust.Product Substitutes:Payment methods such as mobile wallets and contactless payments may pose a threat to traditional fuel cards.However, fuel cards offer specific benefits, such as fleet management and expense tracking, making them a viable option for fleet operators.End-user Concentration and Level of M&A:Fleet operators and commercial vehicle businesses are the primary end-users of fuel cards.The market has witnessed significant M&A activity, with companies acquiring smaller players to expand their geographic reach or product offerings.Key Fuel Card Market Trends HighlightedIncreasing Demand for Fleet Management Solutions: The need for efficient fleet management and fuel cost control is driving the adoption of fuel cards.Growth of Smart Fuel Cards: Fuel cards with embedded chips and contactless payment features enhance convenience and security.Expansion of Telematics Integration: Fuel cards are being integrated with telematics systems, providing real-time vehicle data and improved fuel efficiency.Focus on Sustainability: Fuel cards are promoting the use of cleaner fuels and tracking carbon emissions to support sustainability initiatives.Adoption of Mobile Technologies: Mobile apps offer convenient access to fuel card accounts, transaction history, and vehicle tracking.Key Region or Country & Segment to Dominate the MarketDominant Regions:North America and Europe are the largest fuel card markets globally.The Asia-Pacific region is expected to experience significant growth due to the increasing adoption of fleet management solutions and economic development.Dominant Segments:Card Type: Branded fuel cards hold the largest market share due to their specific benefits and loyalty programs.Vehicle Type: Heavy fleet vehicles account for a larger portion of fuel card usage due to their high fuel consumption and need for efficient management.Application: Fuel refill remains the primary application, but other applications such as parking and vehicle service are gaining traction.Fuel Card Market Product InsightsBranded Fuel Cards: Cards issued by specific fuel retailers, offering loyalty programs and exclusive discounts.Universal Fuel Cards: Cards accepted at multiple fuel stations, providing flexibility and convenience.Merchant Fuel Cards: Cards used for fuel purchases at specific merchant locations.Heavy Fleet Cards: Cards designed for heavy-duty vehicles, providing tracking and cost control features.Light Fleet Cards: Cards suitable for smaller fleet vehicles, offering simplified management and reduced costs.Driving Forces: What's Propelling the Fuel Card MarketCost Savings: Fuel cards help fleet operators reduce fuel expenses through bulk discounts and negotiated rates.Enhanced Fleet Management: Fuel cards provide detailed transaction data, vehicle tracking, and expense reporting.Improved Security: Secure payment methods and fraud detection systems minimize unauthorized transactions.Convenience: Fuel cards offer cashless payment, eliminating manual expense tracking and improving cash flow.Government Incentives: Some governments offer incentives for the adoption of fuel cards to promote energy efficiency.Challenges and Restraints in Fuel Card MarketCompetition from Alternative Payment Methods: Mobile wallets and contactless payments may challenge fuel cards.Fluctuating Fuel Prices: Market volatility can impact fuel card usage and profitability.Data Privacy Concerns: Companies need to ensure compliance with data privacy regulations.High Implementation Costs: Implementing fuel card systems can involve upfront costs and ongoing expenses.Fraud and Security Risks: Fuel card fraud remains a concern, requiring robust security measures.Emerging Trends in Fuel Card MarketArtificial Intelligence (AI): AI-powered analytics provide insights into fuel consumption patterns and optimize fleet performance.Blockchain Technology: Blockchain offers secure and transparent fuel card transactions.Electrification: The growing adoption of electric vehicles may impact fuel card usage.Pay-as-you-drive Models: Subscription-based fuel cards offer flexible payment options.Biofuels and Alternative Fuels: Fuel cards are being adapted to support the use of renewable and alternative fuels.Growth Catalysts in Fuel IndustryIncreasing Fuel Consumption: Rising vehicle ownership and freight transportation are driving fuel demand.Government Regulations: Fuel efficiency and emissions standards promote the use of fuel cards.Technology Advancements: Innovations in telematics and mobile apps enhance fuel card functionality.Expansion into New Markets: Fuel card providers are targeting emerging markets and exploring new customer segments.Partnerships and Collaborations: Partnerships with vehicle manufacturers and service providers create value-added solutions for fleet operators.Key Companies in the Fuel Card Market IncludeFLEETCOR Technologies, Inc.WEX Inc.WAG Payment Solutions PLC (Eurowag)BP PLCRoyal Dutch Shell PLCRadius Payment SolutionsU.S. BancorpAllstar Business SolutionsChevron CorporationTotalEnergies SEDKV Mobility Services GroupFuelmanAral AGCircle KRecent Developments in Fuel CardAugust 2021: U.S. Bank collaborates with Mastercard to expand its fleet card services by introducing the U.S. Bank Voyager Mastercard.November 2023: Radius enhances its offering by allowing users to pre-book HGV parking and washing at truck stops nationwide.Comprehensive Coverage Fuel Card Market ReportThis report provides comprehensive coverage of the fuel card market, including:Market size and growth projectionsRegional and segment analysisKey market trends and driversCompetitive landscapeIndustry challenges and opportunitiesLatest developments and company profiles Recent developments include: In August 2021, U.S. Bank has collaborated with Mastercard to introduce the U.S. Bank Voyager Mastercard, expanding its fleet card services. This card allows users to pay for various fleet-related expenses at existing Voyager merchant locations and anywhere Mastercard is accepted. Fleet managers can tailor spend controls for drivers and vehicles, overseeing an array of purchases beyond fuel and maintenance. The card covers tolls, emergency repairs, international fuel purchases, and more. In November 2023, Radius, the largest UK fuel card supplier, enhances its offering by allowing users to pay and pre-book HGV parking and washing at truck stops nationwide. In partnership with TRAVIS Road Services, this service aims to address the challenge of inadequate parking for HGVs, offering convenience and safety for drivers. Users can manage fuel and services through the online portal, Radius Velocity. The initial rollout covers the UK, with expansion to the Republic of Ireland and Europe in 2024. . Key drivers for this market are: Fuel cards help fleet operators reduce fuel expenses through bulk discounts and negotiated rates. Fuel cards provide detailed transaction data, vehicle tracking, and expense reporting. Secure payment methods and fraud detection systems minimize unauthorized transactions.. Potential restraints include: Mobile wallets and contactless payments may challenge fuel cards. Market volatility can impact fuel card usage and profitability. Companies need to ensure compliance with data privacy regulations.. Notable trends are: The need for efficient fleet management and fuel cost control is driving the adoption of fuel cards. Fuel cards with embedded chips and contactless payment features enhance convenience and security. Fuel cards are being integrated with telematics systems, providing real-time vehicle data and improved fuel efficiency..

In 2024, the UK petroleum-engine cargo trucks market increased by 18% to $654M for the first time since 2021, thus ending a two-year declining trend. Over the period under review, consumption recorded noticeable growth. Petroleum-engine cargo trucks consumption peaked in 2024 and is likely to see gradual growth in the near future.

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Naphtha Market Size 2025-2029

The naphtha market size is forecast to increase by USD 47.1 billion at a CAGR of 3.8% between 2024 and 2029.

The market is witnessing significant growth due to the increasing demand for naphtha In the petrochemical industry. The petrochemical sector is experiencing an increase in demand for naphtha as it is a crucial feedstock for the production of various chemicals such as polyethylene and polypropylene. Moreover, the investment In the extraction of naphtha is on the rise, which is further boosting the market growth. Naphtha's role extends to fuel applications, such as LPG, and non-fuel uses, like rubber production, oils, edible fats, personal care products, and synthetic rubber.
However, the market is also facing challenges due to stringent regulations on the usage of naphtha. Governments and regulatory bodies are imposing strict norms to reduce the environmental impact of naphtha usage. These regulations are expected to impact the market growth In the coming years. Overall, the market is poised for steady growth, driven by the increasing demand from the petrochemical industry and investment in extraction, while facing challenges due to regulatory hurdles.

What will be the Size of the Naphtha Market During the Forecast Period?

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The market is experiencing dynamic shifts In the post-pandemic period, with economies recovering and industries resuming operations. This medium-term outlook brings both opportunities and challenges for market participants. Naphtha, a versatile petrochemical feedstock, is integral to various industries, including fertilizers, additives, and polymers. Budgeting and investments In these sectors will be crucial as raw material prices continue to exhibit volatility. The shift in trends towards cheaper alternatives, such as propane, may impact naphtha's demand. In the long term, the implications of this shift could significantly alter the market landscape.
Moreover, industries relying on naphtha as a raw material or feedstock must closely monitor these trends and adapt accordingly. Factors like economic conditions, technological advancements, and regulatory changes will continue to influence the market. As the market evolves, stakeholders must remain agile and prepared for the future.

How is this Naphtha Industry segmented and which is the largest segment?

The naphtha industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Heavy naphtha
  Light naphtha


Application

  Chemicals
  Energy/fuel
  Others


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK


  Middle East and Africa



  South America

    Brazil

By Type Insights

The heavy naphtha segment is estimated to witness significant growth during the forecast period.

Heavy naphtha, a key component of the market, has experienced significant demand due to its versatile applications. In the medium term, heavy naphtha has emerged as a crucial feedstock for petrochemical production, contributing to the manufacture of various products such as plastics, synthetic rubbers, and resins. Additionally, it plays a pivotal role In the production of gasoline and other fuel products. The increasing preference for shale gas has driven the demand for heavy naphtha as a diluent for crude oil transportation. The petrochemical sector, particularly in emerging and industrialized economies, is witnessing capacity expansions, leading to increased demand for heavy naphtha.

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The heavy naphtha segment was valued at USD 132.60 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 40% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Naphtha, a versatile commodity used as a feedstock in various industries, experiences increasing demand due to economic expansion and industrial growth, particularly In the Asia Pacific (APAC) region. The petrochemical sector, a major consumer of naphtha, is witnessing significant expansion in APAC, driven by the production of essential applications such as plastics, solvents, and synthetic fibers. Key industries, including coatings, power plants, steel plants, fertilizer units, paint applications, and capacity expansions, rely on naphtha as a critical input. The medium-term implications of these trends include potent

Ethanol increased 0.06 USD/GAL or 3.25% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Ethanol - values, historical data, forecasts and news - updated on March of 2025.

In September 2022, the average price of diesel in London stood at 182.2 pence per liter.The price of diesel fuel generally fluctuates in tandem with crude oil prices and net increased by over 60 pence in the period of consideration. In July 2022, the average diesel price peaked at 197 pence per liter. London has a reputation for being expensive, and the cost of diesel is no exception. Prices in the capital have consistently been more expensive than the UK average. Diesel's descent in popularityAs a result of the diesel scandal, where Volkswagen was discovered to have fitted defeat devices meant to lower emission levels during fuel economy testing, the popularity of the diesel car suffered significantly. By 2021, diesel's share in the UK's new passenger car market had fallen to less than 8.2 percent. This was in direct contrast to steady gains made by electric and hybrid vehicles, with more drivers now choosing battery-fitted vehicles over diesel combustion engines.There are many types of diesel, most commonly a fractional distillate of petroleum fuel oil, all of which are constantly being developed and adapted for the industry. As of 2006, almost all of the petroleum-based diesel fuels in Europe and North America are an ultra-low sulfur diesel (ULSD). Meanwhile, biodiesel remains a not so widely used choice.

Propane increased 0.10 USD/GAL or 13.33% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Propane - values, historical data, forecasts and news - updated on March of 2025.