The era of cheap fuel has ended forever and that the situation is going to get much worse over the next year, fleet managers have been warned.
The dire predictions were made at Lloyds TSB Autolease’s latest best practice workshop.
Fleet operators were warned of a global oil crisis that is going to affect our lives, how we travel and how businesses are fundamentally structured.
“We’re heading for $200 per barrel in early 2009, and that will mean we will be paying about £1.50 per litre at the pump,” said environmental expert, Don Potts.
“This will impact hugely on how you run a fleet.
"Despite the news agenda over the last couple of months, I don’t think industry has taken these warnings seriously.
"But these oil prices are never going to drop back again, even with Saudis increasing production.
"Demand will not allow it.”
Lloyds TSB Autolease’s head of consultancy services Marcus Puddy said companies can now choose to reward or penalise employees depending on the CO2 emissions of the car they choose.