Fleet News

Fuel prices set to stabilise

FUEL experts believe pump prices have stabilised and that 1997 will bring 'few, if any, surprises' for fleets following price rises of up to 33p a gallon last year. Fleet chiefs have identified 'keeping overall fleet costs down' as their top priority this year in an exclusive Fleet News/Lex Vehicle Leasing survey with rising fuel costs listed as their third concern.

This week figures from PHH AllStar show that pump prices rocketed last year as the price war took its toll. The average price of unleaded fuel increased from 56p a litre or 254p a gallon in January to 61p/277p in December, diesel rose from 56p/254p to 62p/281p, four star rose from 61p/277p to 66p/300p and super unleaded rose from 59p/267p to 66p/300p.

PHH collates monthly fuel reports based on transactions made by 650,000 drivers using AllStar and PHH operated fuel cards and average fuel prices in 39 towns and cities across Britain. And while fleets and motorists benefited from the price war in terms of cheaper fuel the battle was bloody with more than 3,000 independently-owned forecourts closing as major oil companies fought to increase their market share.

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