Global monthly fuel price index 2020-2023
The global fuel energy price index stood at 223.27 index points in January 2023, up from 100 in the base year 2016. Figures increased six-fold between summer 2020 and summer 2022 as a result of an ongoing energy supply shortage that was exacerbated by the Russia-Ukraine war. The decrease noted in October was due to mild weather and reduced demand outlooks as recession fears loomed. The fuel energy index includes prices for crude oil, natural gas, coal, and propane.
