HVO (Hydrotreated Vegetable Oil) fuel is a renewable diesel alternative that is made from vegetable oils, fats, and greases. It is produced through a process called hydrotreating, which removes oxygen from the feedstock and creates a fuel with similar properties to traditional diesel. HVO fuel is considered a more sustainable and environmentally friendly option compared to traditional diesel, as it produces lower emissions and can be produced from waste materials.
HVO Fuel Price in the UK
HVO price per litre in the UK varies depending on several factors, including the location, supplier, and current market conditions. As of August 2021, the average price for HVO fuel per litre in the UK is around £1.20 to £1.40. This is slightly higher than the average price for traditional diesel, which is currently around £1.10 to £1.30 per litre.
Factors Affecting HVO Fuel Price
There are several factors that can affect the price of HVO fuel in the UK. These include:
The production process for HVO fuel can be more expensive compared to traditional diesel, which can also affect the price. However, as technology advances and production processes become more efficient, the cost of producing HVO fuel is expected to decrease.
Taxes and Incentives
Taxes and incentives can also play a role in the price of HVO fuel. In the UK, HVO fuel is currently exempt from fuel duty, making it a more cost-effective option for consumers. However, this exemption is set to expire in 2032, which could potentially increase the price of HVO fuel in the future.
Benefits of Using HVO Fuel
There are several benefits to using HVO fuel, including:
HVO fuel produces lower emissions compared to traditional diesel, making it a more environmentally friendly option. It can reduce greenhouse gas emissions by up to 90% and particulate matter emissions by up to 30%.
Renewable and Sustainable
HVO fuel is made from renewable sources, such as waste materials, making it a more sustainable option compared to traditional diesel. It also has a lower carbon footprint, making it a popular choice for companies looking to reduce their environmental impact.
Compatible with Existing Vehicles
HVO fuel can be used in existing diesel vehicles without any modifications, making it an easy and convenient option for those looking to switch to a more sustainable fuel.
The price of HVO fuel in the UK is currently slightly higher than traditional diesel, but it offers several benefits, including lower emissions and sustainability. As technology advances and production processes become more efficient, the cost of HVO fuel is expected to decrease, making it a more affordable option for consumers. With the UK government’s commitment to reducing emissions and promoting sustainable fuels, the demand for HVO fuel is expected to increase in the coming years.