Fuel and gas glossary
Plain-language definitions for the terms behind fuel prices, from octane ratings to price caps, each linked to where you will see it in FuelTheGuide.
Start with the basics
Octane rating
A measure of how well petrol resists knock. It explains why grades such as 95 and 87 are not directly comparable.
Read the full entryNational average price
The average retail price of a fuel across a whole country. It is the price figure every country on our site shows.
Read the full entryGovernment-fixed price
A pump price set by a government and changed on a schedule, which is why some countries' prices stay flat for weeks.
Read the full entryGuides for learning more
Longer reads that connect these terms to the way fuel prices work. Each guide links back to the entries it uses.
How to compare fuel prices between countries
Why the same litre isn't the same price: currencies, units, grades and taxes.
What makes up the price at the pump
Crude oil, refining, distribution and taxes, and why the split differs by country.
Petrol or diesel: which costs less to run?
Price per litre is only half of it. Fuel use, taxes and distance decide.
Why some countries have very cheap fuel
Subsidies, price caps and fixed prices, and what they mean for travellers.
All terms, A to Z
The octane number on US and Canadian pumps. It is the average of RON and MON.
On our site: Shown in US grade names, such as Regular 87.
Prices updated by hand for countries without automatic collection. They may be out of date.
On our site: Labelled on prices, and you can hide them.
A diesel component made from vegetable oils or animal fats and blended into regular diesel in many countries.
A regulatory requirement to mix a minimum share of biofuel — such as ethanol (E10) or biodiesel (B7) — into fossil petrol or diesel, and how it feeds into pump prices.
The main international benchmark for crude oil prices. Pump prices tend to follow it with a delay.
A government levy per tonne of CO₂ emitted. Applied to transport fuels it adds a per-litre cost proportional to carbon content — on top of excise duty.
A measure of how readily diesel ignites under compression. A higher number means smoother combustion.
Compressed natural gas, stored under pressure and used as a vehicle fuel. It is often sold by weight, not volume.
On our site: Shown where a country publishes it.
The refinery gross margin — the price difference between crude oil and the petrol and diesel produced from it. When crack spreads widen, pump prices rise even if crude is flat.
A fuel that ignites under compression, used in trucks, vans and many cars.
On our site: Diesel and premium diesel on separate grades.
Middle-boiling-range petroleum products (150–370°C) including diesel, jet fuel, kerosene, and heating oil — the most economically significant refined product category.
A fixed tax per litre or gallon of fuel, charged before VAT. It can be a large share of the total when pre-tax prices are low.
The amount of energy an economy uses per unit of GDP. Countries with low energy intensity produce more economic value per litre of fuel burned — making them less vulnerable to price shocks.
Petrol blended with 10% or up to 85% ethanol. E10 needs a compatible vehicle.
On our site: E10 is its own grade where published.
The price of one currency in another. We use it to show every fuel price in your chosen currency.
On our site: The currency picker.
The percentage change in fuel demand resulting from a 1 % price change. Typically −0.05 to −0.2 short-run and −0.25 to −0.8 long-run — central to tax design and subsidy reform modelling.
The difference between the pump price and the wholesale cost of fuel. Covers forecourt operating costs and profit — typically only 1–5 cents per litre in competitive markets.
Government support that keeps pump prices below the market level.
On our site: Subsidised markets are labelled.
Two names for the same fuel: gasoline in North America, petrol in most other English-speaking countries.
On our site: We use the local name for each country.
A pump price set by a government or regulator and changed on a schedule, which is why some countries' prices stay flat for weeks.
On our site: Labelled, with how often it changes.
A fuel type or octane class sold at the pump, such as 95, 98 or Premium.
On our site: The fuel picker.
The all-in cost at which a country could source a fuel from the world market. Used to assess whether domestic prices are subsidised or market-aligned.
A refined fuel used for heating and lighting, and in a further refined form as jet fuel. A few countries sell it at the pump.
The operating cost of producing one barrel of crude oil from an existing well — labour, energy, maintenance, and workovers. Ranges from ~USD 3/bbl in Saudi Arabia to ~USD 45/bbl for oil sands.
Liquefied petroleum gas, a mix of propane and butane used as a car fuel. It is usually much cheaper per litre than petrol.
On our site: LPG appears as its own grade.
The average retail price of a fuel across a whole country, not the price at one station.
On our site: Every price on our site.
The value of a barrel of crude at the wellhead after subtracting transport, refining, and marketing costs. Netback is the fundamental measure of upstream profitability.
A measure of how well petrol resists knock. A higher number resists it better.
The retail price a consumer pays at a filling station. Composed of crude cost, refining margin, distribution, and taxes — which typically represent 40–70% of the total in developed markets.
On our site: Every price on our site is a pump price.
The world's most consumed transport fuel, refined from crude oil. Graded by octane number (RON outside North America, AKI in the US/Canada). Also explains why prices vary so widely between countries.
On our site: Shown as Standard Petrol and Premium Petrol grades.
A maximum price for fuel set by a government. Below-market caps require state compensation, creating an implicit subsidy.
The wholesale cost of petrol or diesel as it leaves the refinery, before taxes and distribution. It is the base of the pump price build-up and most directly tied to crude oil markets.
Research Octane Number: the octane number used in Europe, the UK, Australia and much of Asia, such as 95 or 98.
On our site: Used in most grade names outside North America.
The wholesale price at which fuel is sold at a bulk storage terminal to road tanker operators — the last wholesale price before retail. Used by competition regulators in Australia and the UK to assess retail margins.
Why the same fuel carries different octane numbers depending on the country. RON is used in most of the world; AKI in the US and Canada.
The volume of crude oil OPEC members — primarily Saudi Arabia — can bring online within 30 days and sustain for 90 days. The global oil market's primary supply buffer and key driver of the crude risk premium.
Our two comparison groups for petrol. Each country's usual grade is standard, and higher-octane grades are premium.
On our site: Comparison groups in the explorer.
A country where heavy subsidies keep fuel prices below market levels. We label these so you can filter them out.
On our site: A label and a filter.
A US gallon is 3.78541 litres. An imperial gallon is 4.54609 litres.
On our site: The unit picker.
Value-added tax is added to fuel prices in most countries. Applied on top of excise duty, it amplifies crude price swings at the pump.
The value of crude oil or natural gas at the point of extraction, before transport, processing, or taxes are added. The starting point of the upstream-to-retail price chain.
The percentage difference between this week's average price and last week's.
On our site: Shown next to every price.
The dataset refreshes once a week, and every figure shows the date of its last update.
On our site: Every table shows the date.