Overview
- HM Revenue & Customs put new advisory fuel rates into force on Monday, June 1, including a 26p per mile band for some petrol company cars and higher per‑mile rates for larger engines.
- Electric vehicle advisory rates remain unchanged at 7p per mile for home charging and 15p per mile for public charging, leaving EV reimbursements steady for company drivers.
- Chancellor Rachel Reeves has extended the temporary 5p‑per‑litre fuel duty cut through the end of 2026 and earlier raised the Approved Mileage Allowance Payment to 55p for the first 10,000 business miles.
- The Competition and Markets Authority said it found no evidence of opportunistic retailer pricing but warned retail margins stay at historically high levels and urged motorists to use the government Fuel Finder tool to secure savings of up to about £9 a tank.
- Wholesale oil shocks linked to the Middle East conflict have pushed petrol to around 159p per litre and diesel to about 184p per litre, raising costs for drivers and prompting regulators to keep monitoring margins and price transmission.