Fleet News

Survey reveals fuel prices rising fastest on fleet agenda

Fuel costs will be the fastest rising item on the fleet industry agenda during the next 12 months, according to GE Capital, Fleet Services latest quarterly Company Car Trends survey.

The research reveals that when asked to rate a variety of factors influencing fleet management decisions today, 31% of fleet managers gave “fuel costs” a maximum score of 10 out of 10 – but when questioned how they believed they would answer the same question a year from now, the percentage increased to 47%.

When all 300 respondents to Company Car Trends are taken into account, the aggregate score for fuel costs rose from an average of 7.8 out of 10 now to 8.4 in 12 months’ time.

The increase in importance of fuel costs means that it will become the number two item on the fleet management agenda, overtaking fleet safety and risk management. Fleet running costs remains at the head of the list over the same period.

The top 5 factors in the list are:

  1. Fleet running costs
  2. Fleet safety and risk management
  3. Fuel costs
  4. Driver and corporate taxation
  5. Environmental concerns

Gary Killeen, UK fleet commercial director, GE Capital, said: “It is no surprise that fuel is very much preoccupying fleet managers at the moment. The £6 per gallon cost is now commonplace and it is possible that by this time next year, continuing the rate of recent rises, we will be looking at the £7 per gallon mark.

“While there is little that most fleet managers can do to reduce the actual pump price of fuel, there are a whole range of strategies that can be adopted to control fuel spend and fuel consumption. We expect to see a lot more interest in formalising these actions into comprehensive fuel management policies during 2011.”

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