HMRC Petrol and Diesel Fuel Prices: Learn the Most Recent Developments and Industry Trends Starting This Week

​​​​​​HMRC fuel rates for petrol, diesel and electric cars: New Advisory Fuel Rates, which will affect company car rates, have been released by HMRC and will take effect on March 1.

Rates for larger engines stay the same, while diesel vehicles with engines up to 1,600cc will see an increase to 12ppm. Diesel cars with 1,601-2,000cc engines will continue to run at 13 ppm. For diesel vehicles with engines larger than 2,000cc, the rate remains at 17ppm.

The rate for gasoline-powered vehicles with 1,401–2,000cc engines will rise to 15 ppm. The recommended electricity rate of 7 ppm for drivers of electric company cars, however, has not altered.

The Department for Energy Security and Net Zero publishes an annual figure called “Domestic electricity cost per kilowatt-hour,” which is updated based on the most recent Office for National Statistics energy price estimate. 

To advise fuel rates, hybrid vehicles are regarded as either petrol or diesel vehicles. The following tables display the recommended fuel prices for cars running on petrol, LPG and diesel.

Before any new rates take effect, you have up to one month to utilise the old rates.

Only workers who use business vehicles are subject to these fees. Utilise the rates when you require employees to cover the cost of fuel used for personal travel or when you compensate them for business travel in corporate vehicles. These rates cannot be used in any other situation.

The Department for Energy Security and Net Zero (DESNZ) provides the most recent prices for petrol and diesel, while the Automobile Association website provides the average price for LPG in the UK.