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In the past month, diesel prices have risen by their highest margin this century and are now almost 14 pence per litre more expensive than petrol.

High oil prices, breaking through the $125 mark, have also fuelled a near-record rise in petrol prices. Nationally, unleaded prices have risen to a record average price of 116.9ppl nationally in the past month. Diesel prices have rise to a record average of 130.3ppl.

Emissions based taxation changes 

As a parallel to rising fuel costs, the survey also revealed a level of dissatisfaction from financial directors of UK businesses with the timescales that the Government has attached to the Budget’s recent emissions based taxation changes.

With the changes due to take affect in April, 2009, almost a third (32 per cent) of those taking part in a Lex/YouGov survey felt that they had received adequate notice from the Government to implement the necessary changes to their business vehicles.

Fifty-three per cent of those surveyed also stated that implementing changes brought about by the new pieces of Government legislation, be it as a result of the corporation tax/capital allowances, CO2 based vehicle taxation or the corporate manslaughter act, had placed a strain on their business.

Lex MD Jon Walden said that the survey illustrated the pressure that UK businesses are feeling as a result of rising fuel costs, and in particular the price of diesel.

As a company that specialises in vehicle leasing for UK businesses, Lex has established the ‘Lex Momentum’ consultancy arm which is providing strategic assistance to businesses in these challenging times on reducing costs and advice on low-emitting vehicles.

Changes in the law 

More than half (56 per cent) did not feel they had received adequate notice from the Government for implementing the new changes in the laws on corporation tax and capital allowances to be introduced in April 2009, changes in CO2 based vehicle taxation or duty of care and corporate manslaughter.

Forty per cent of respondents are not familiar with forthcoming changes to corporation tax and capital allowances, while 42 per cent of businesses surveyed with company cars said they had no plans to make vehicles more environmentally friendly over the next six months.

Fifty-seven per cent of respondents did not think that making their fleet more environmentally friendly would attract new business.

Only 47 per cent of respondents reported that their company had policies or procedures in place to ensure it met its ‘duty of care’ responsibilities to employees in light of the corporate manslaughter act.

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Related links 

• Lex