The new company car advisory fuel rates have been published and took effect from 1 June 2024. The rates are reviewed quarterly, with the next update due on 1 September 2024.
Guidance specifies that the previous rates can be used for up to 1 month from the date any new rates apply.
The rates can be used for either:
- Reimbursing employees for business travel in their company cars; or
- For employees to repay the cost of fuel used for private travel.
Rates from 1 June 2024 for petrol, LPG and diesel cars
| Engine size | Petrol – rate per mile | LPG – rate per mile |
| 1400cc or less | 14 pence | 11 pence |
| 1401cc to 2000cc | 16 pence | 13 pence |
| Over 2000cc | 26 pence | 21 pence |
| Engine size | Diesel – rate per mile |
| 1600cc or less | 13 pence |
| 1601cc to 2000cc | 15 pence |
| Over 2000cc | 20 pence |
Rates from 1 June 2024 for electric cars
From 1 June 2024, the advisory electric rate for fully electric cars will be 8 pence per mile.
Hybrid cars are treated as either petrol or diesel cars for advisory fuel rates.