This is a vague question really and there are a number of factors to consider.
Firstly which track you refer to? Fastest laps are recorded for each track where the Formula One series visits. So to find the fastest lap of all presumably you'd need to find the shortest, fastest circuit...
Secondly in the current 2010 championship run V8 engines, and in the past cars have run engines with more cylinders resulting in faster lap times. The fastest period in F1 history is arguably the 2004 season. Cars ran V10 engines with very high aerodynamic efficiency and downforce levels. Schumacher, Raikkonen and Montoya set many of the lap records that remain in place today during this time.
Thirdly there are many tracks F1 cars race on where races don't occur. Test tracks. Times are set here, but are not deemed competitive and are so are not recorded. Similarly on a grand-prix weekend, only times set during Sunday's race are recorded for actual fastest laps, despite the fact that during Friday practice or Saturday qualifying sessions cars could've placed faster times. In actual fact the fastest lap time ever came when Colombian Juan Pablo Montoya lapped Monza, Italy in 2004 with a timeof 1m19.525s with an average speed of 262.242 km/h in pre-qualifying. But the official record for this track was set by Brazilian Rubens Barrichello in the race that same weekend with a lap time of 1m21.046s. Barrichello also set the fastest qualifying lap ever recorded at this same race with a time of 1m20.089s.
The final thing to remember is that tracks change every year, corners, straights, run-off areas and barriers are all adjusted so actual lap times are only really relevant to an individual race or season.
Hope this helps...
UB is the fastest person ever timed for a 100m or 200m track race. is he the fastest human ever alive? We will never know.
Bruce McLaren (1969 McLaren M8B), 1:24.6
Secretariat.
The fastest lap time ever at Bathurst race track is 1:59.29, set by Chaz Mostert in the 2019 Bathurst 1000.
The Patriot Trot 2008
India
About 60 km/h for track cyclists.
menindee race track also classed as th fastest because its built on river floodplain
The second formula one race ever was held in Monaco on May 21st 1950.
Secretariat holds the record for the fastest Kentucky Derby time, running the race in 1:59 2/5 in 1973.
A Grid refers to the position on the race track that the racers would start their race with. The person starting first is said to be on Pole Position or No. 1 position. To determine the position in which the drivers would start their race, usually on Saturdays a qualifying event is held. During this, the drivers have to drive as fast as they can around the track for one fast lap and the driver who can set the fastest time would start on Pole. This includes a number of other rules and criterion but in short, the fastest driver during qualifying starts on pole during the race on Sunday.
UK