Brent crude oil prices have once again reached $100 a barrel, putting renewed pressure on fuel prices and raising concerns for businesses that rely on vehicles and fleets.
For UK drivers, rising crude oil prices can quickly feed through to the cost of petrol and diesel at the pump. For businesses operating multiple vehicles, the impact can be even more significant, increasing fuel costs and further straining already stretched operating budgets.
But why is the price of crude oil rising? How does it affect what we pay at the pump, and what can businesses do to manage the impact?
Why has the price of Brent crude oil risen?
Brent crude is one of the world’s most important oil benchmarks and is widely used as a reference point for pricing oil internationally. When the price of Brent crude rises, it can increase the cost of producing petrol and diesel, which can eventually feed through to wholesale and retail fuel prices.
Concerns around global oil supplies and geopolitical tensions have driven recent increases. Disruption or uncertainty affecting major oil-producing regions and key shipping routes can have an immediate impact on global energy markets, as traders anticipate potential restrictions on the supply of crude oil.
This uncertainty has pushed Brent crude higher, with the benchmark reaching around $100 a barrel. Any sustained increase in the cost of crude oil could put further upward pressure on fuel prices in the UK.
How does the price of crude oil affect fuel prices?
The price of crude oil is one of the biggest factors influencing the cost of petrol and diesel, but it is not the only one.
The journey from crude oil to the price you see on a forecourt involves several stages. Crude oil must be refined into products such as petrol and diesel before being transported and sold through the fuel supply chain.
Other factors that influence pump prices include:
Wholesale fuel prices.
Refining and distribution costs.
The exchange rate between the pound and the US dollar.
Fuel duty.
VAT.
Competition between fuel retailers.
This means that a rise in crude oil prices does not always translate into an immediate or identical rise at the pump. However, if higher oil prices continue, the increased cost can gradually work its way through the supply chain. For UK motorists and businesses, this can mean paying more to fill up their vehicles.
What does this mean for UK businesses?
For businesses that operate vehicles every day, fuel is a high running cost. This is particularly true for organisations with large fleets, high-mileage vehicles or drivers covering long distances.
When fuel prices rise, the impact can extend beyond the cost of filling up. Increased transport costs can affect deliveries, logistics, field-based services and the overall cost of doing business.
For fleet managers, even a small increase in the price paid per litre can add up quickly across hundreds or thousands of litres of fuel. For example, a fleet using 10,000 litres of fuel a month would see its monthly fuel bill increase by £1,000 if the price paid per litre rose by 10p.
This is why keeping track of fuel prices and looking for ways to control fuel spend is an important part of effective fleet management.
How can businesses manage rising fuel costs?
While businesses cannot control global oil prices, they can take steps to improve fuel efficiency and manage fleet operating costs.
Review your fuel purchasing strategy
When fuel prices are rising, getting the best possible price at the point of purchase becomes even more important.
Fuel cards can help businesses manage fuel spending by giving drivers access to an agreed network of stations and consolidating fuel transactions into a single account.
Depending on the fuel card, businesses can also access discounted fuel prices, helping to reduce the overall cost of running their fleet.
Monitor fuel usage
Understanding how much fuel your vehicles are using can help identify opportunities to reduce costs. Tracking fuel consumption across individual vehicles and drivers can highlight unusual increases in usage and help fleet managers identify potential issues, such as inefficient driving, excessive idling or vehicle maintenance problems.
Encourage fuel-efficient driving
Driver behaviour can have a noticeable impact on fuel consumption. Encouraging drivers to avoid unnecessary idling, maintain steady speeds, accelerate smoothly and plan journeys effectively can help reduce fuel use. Small improvements in fuel efficiency across a large fleet can make a meaningful difference to overall operating costs.
Plan journeys more effectively
Unnecessary mileage can quickly increase fuel costs. Using route planning tools and encouraging drivers to combine journeys where possible can help reduce the number of miles travelled. Better route planning can also help drivers avoid congestion and unnecessary delays, which can further improve fuel efficiency.
Keep vehicles properly maintained
Vehicle maintenance is another important part of controlling fuel costs. Under-inflated tyres, poor engine maintenance and other mechanical issues can all affect fuel efficiency. Regular servicing and maintenance can help vehicles operate as efficiently as possible while also reducing the risk of unexpected breakdowns.
Could fuel prices continue to rise?
The future direction of fuel prices is difficult to predict.
Oil markets can change quickly in response to geopolitical developments, supply concerns, changes in global demand and movements in currency markets. A period of increased uncertainty can lead to significant volatility, meaning prices can rise or fall relatively quickly.
For businesses, this makes it difficult to predict exactly how much they will spend on fuel over the coming weeks and months. Rather than relying on fuel prices remaining stable, fleet operators can focus on the areas they can control. Reviewing fuel purchasing, improving efficiency and monitoring consumption can all help businesses become more resilient when fuel prices rise.
What does this mean for fleet managers?
The recent rise in Brent crude oil prices is another reminder of how quickly global events can affect businesses in the UK.
For fleet operators, rising fuel prices can put pressure on budgets and increase the cost of keeping vehicles on the road. However, taking a proactive approach to fuel management can help businesses reduce unnecessary spending and improve visibility over their overall fuel costs.
From reviewing fuel purchasing strategies to encouraging efficient driving and using technology to plan journeys, there are several ways businesses can take greater control of their fleet’s fuel spend.
With oil prices continuing to fluctuate, keeping a close eye on fuel costs and having the right strategy in place can help businesses prepare for whatever happens next.
The rise in Brent crude oil prices to $100 a barrel highlights the wider challenges facing businesses that rely on road transport.
While global oil prices are outside a business’s control, the way a fleet purchases and uses fuel is not. By combining smarter fuel purchasing with better fuel efficiency, route planning and regular vehicle maintenance, businesses can take practical steps to reduce the impact of rising fuel costs.
For fleet managers, the key is to focus on the areas within their control. The right fuel management strategy can help businesses manage costs, improve efficiency and keep their fleets moving, even when the wider fuel market remains uncertain.
Ready to start saving on fuel costs? Compare fuel cards online to find the perfect solution for your business. It takes just minutes to see how much you could save, and our expert team is ready to help you get started today.
This article was written on Friday, 24th July 2026 and published on Friday, 24th July 2026. All information contained within is correct at the time of writing. We try our best to continue to update our guides, but not all guides are regularly reviewed - for the latest news and insight, visit: rightfuelcard.co.uk/news-insights
