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Rocketing fuel prices see business miles tumble

Date: 13 June 2008

Rich Green

Business mileage is down 17.5% due to soaring fuel prices according to analysis by GE Fleet.

The leasing giant's quarterly Company Car Trends survey has shown 96.3% of fleets questioned say fuel costs are reducing business mileage.

Working from home is pointed to as the reason for the drop in business mileage. The survey's stats report an increase in home-working of 19.4% year-on-year.

What's more, respondents claimed this trend would continue in the next 12 months, accounting for a further increase in home working of 11.4%.

Rich Green, managing director at GE Capital Solutions, Fleet Services, said: "Anyone who drives a car can,t help but see that petrol and diesel prices are increasing on a weekly basis and there is no let up in sight.

"Employers are struggling to keep on top of these price rises and one of the best solutions open to them is simply to tell their company car drivers to stay at home more often. Not covering the miles to your office saves money."