Diesel hike costing hauliers millions, says Right Fuel Card
A sharp increase in annual diesel prices will have driven some large haulage companies’ fuel expenditure up by more than £11 million against 2021 costs, according to recent data from Right Fuel Card.
The company compared differences in fuel prices across the UK in October 2022 against those from the same month in 2021, and found that overall, the average price of fuel had risen to £1.81 per litre compared to £1.35 per litre in 2021.
“As a result, it’ll now cost £467.50 to fill just one HGV tank, compared to £340 in 2021,” said Right Fuel Card.
“And for large haulage companies running around 2,000 HGVs, they’re likely to be spending just under £12 million more on their fuel expenditure compared to 2021.”
Based on the average driver doing around 100,000 miles a year, the annual fuel price increase for one HGV amounts to just under £6,000, says the firm.
As part of its data release, Right Fuel Card has made an interactive map available on its website, which allows users to compare how both diesel and petrol prices across September and October changed against the same period in the previous year, in various areas of the country.
Bolton in Greater Manchester took the top spot among the most affordable local authority areas in which to purchase diesel, though still saw an increase of 21.6 per cent against 2021 prices. Bracknell Forest in Berkshire and Swansea in South Wales took second and third places respectively.
The website also offers advice on ways fleets can address fuel costs.
David James, sales director at Right Fuel Card, said: “All fleet businesses, big or small, will have been hard pressed to not feel the pressure of increasing fuel prices that we’ve witnessed this year. We hope the findings from this study provide businesses with genuine insight into how fuel costs have changed in 2022, and help them to plan for the months ahead.
“At Right Fuel Card, our goal is simple; cut our customers fuel costs by saving them time and money. Whilst the key benefit of fuel cards is to save money off the pump price of fuel, it’s the wider administrative savings – such as reduced time spent looking through receipts and VAT reclaim – which set them apart from using credit or debit cards for fuel purchases.”
