As we head towards the final month of the calendar year, we have received notice of the new HMRC advisory fuel rates effective from December 1st.
In summary, all petrol and diesel rates have been chopped by 1p per mile whilst the advisory electric rate remains unchanged at 7p per mile.
Advisory rates for petrol and diesel vehicles, which differ depending on engine size, are a recommended reimbursement rate per mile for the completion of business mileage.
Using weekly data from the Department for Energy Security and Net Zero, TMC were able to see that despite fuel prices rising in recent weeks, they are slightly lower overall than what they were around the time of the last published AFRs.
The full list can be found below.
As for the advisory electric rate staying at 7p, this continues to be concluded using a domestic electricity cost of 26.42p per kWh (kilowatt hour) and an average efficiency of 3.59 miles per kWh. TMC’s last data dive into EV running costs showed more cars to be covered by the AER when home charging is used. We’ll be able to provide fresh data in the coming weeks with the next EV rate release.
