New Advisory Fuel Rates (AFRs) have been published by HMRC, alongside a reduced Advisory Electricity Rate (AER).

The new AER, for electric company car mileage reimbursement, has been set at 9p per mile, down from 10p per mile previously, and reversing an increase that was implemented three months ago.

Increased AFRs have been announced for most petrol engines, and all diesel engines.

Hybrids are treated as either petrol or diesel cars for AFR purposes.

The new rates will apply from 1 December, but the old rates can still be used for up to one month from that date.

The new rates per mile are as follows:

Petrol:

1,400cc or less: 14p (up by 1p)