Rapidly rising fuel costs will dominate fleet managers’ agendas in the rest of 2008, according to leasing giant GE Capital.
“Both crude oil prices and petrol and diesel pump prices are notoriously difficult to predict,” said GE boss Rich Green, “but it is difficult to envisage much respite from upward pressure during the rest of 2008.”
Diesel has risen by 1.3p and petrol 0.6p in the space of a week, according to figures released last week by fuel card leader Arval, and GE puts the rise in the past 12 months at 15-20%.
Despite this, fuel cards use has fallen by almost 10% in the past year.
“The continuing decline of fuel cards is mystifying,” continued Green. “They are the key tool available to fleets when it comes to gathering information about fuel use and making decisions on how to manage down costs.”
