Fleets are ‘anxious’ about the possibility of further significant petrol and diesel price rises as the US-Iran military conflict shows little sign of genuinely ending, says FleetCheck.
Peter Golding, CEO at the fleet software company, said a new wave of pump price increases in recent weeks meant talk among vehicle operators about escalating costs and even the possibility of fuel rationing was becoming common.
‘Petrol prices are now at a high for 2026 while diesel isn’t far behind and, with the possibility of a lasting ceasefire seemingly unlikely at this point in time, fleets are increasingly concerned about the likelihood of fuel price escalation into not just Q3 but Q4 and 2027,’ he said.
Peter continued, ‘They are anxious that, at a time when general fleet costs are under pressure, fuel prices may start to spiral. The fear is that, while oil producers are looking for alternative routes to alleviate supply issues, the current situation could persist for not just months but years.’
Some fleets were responding by introducing measures such as closer control of fuel purchasing and accurate monitoring of fuel use, he added, and this could have a surprisingly positive impact on costs.
‘Fleets that aren’t carrying out the basics of fuel management have some wriggle room to make improvements but if you have ticked off all those boxes, you have little alternative but to pay higher pump prices and either see your margins eroded or pass on higher costs to customers. It is a genuine concern,’ said Peter.
The situation was also leading more fleets to look at the potential for greater use of electric vehicles (EVs).
Peter added, ‘Based on current prices, EV fuel costs per mile if you are able to home charge are around a quarter of petrol and diesel. With lease rates and purchase prices for EVs looking more competitive all the time, it strengthens the argument for electrification.’