A new wave of pump price increases in recent weeks, has meant all the talk among vehicle operators is about escalating costs and even the possibility of fuel rationing was becoming common, according to Peter Golding, CEO at the fleet software company, FleetCheck.

He said: "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 into 2027.

"They're 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 have responded 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've 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's a genuine concern."

Peter added that this situation was also leading more fleets to look at the potential for greater use of electric vehicles (EVs).

"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."