Fuel management company Arval has launched a new service in the UK which will allow high fuel volume van fleets to put a cap on the average price of diesel they buy, helping them to set and stay within their fuel budgets.

The Capped Price Diesel service will allow customers to cap the maximum average price of diesel purchases over an agreed period of at least 12 weeks with a minimum volume commitment of diesel over the period.

For an upfront fee, customers not only get the advantage of capping the maximum price, but also enjoy the benefit of lower prices if diesel remains under the capped ceiling.

This will allow fleet operators and finance directors to budget their fuel costs with a level of certainty.

A spokesman said: “Customers will benefit from greater stability, can set their fuel budgets with more certainty and may gain a competitive advantage in their industry or market.”