HMRC has released its latest advisory fuel rates (AFRs) and Advisory Electric Rate (AER) this week, which will come into force from 1st March 2024.

Available at https://comcar.co.uk/taxpages/afrs/ all three rates for petrol have been cut. Engines up to 1,400cc engine have decreased by 1ppm (13ppm), as well as 1,400-2,000cc(15ppm). Over 2,000cc have decreased by 2ppm (24ppm).

Diesel rates have also all decreased across all engine sizes by 1ppm. Up to 1,600cc (12ppm), 1,601-2,000c (14ppm) and engines over 2,000cc (19ppm).

AFRs for LPG-powered vehicles have meanwhile increased. Engines up to 1,400cc have increased by 1ppm (11ppm), as well as engines between 1,401-2,000cc (13ppm). Engines over 2,000cc have increased by 3ppm (21ppm).

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

The Advisory Electric Rate (AER) used to reimburse drivers of electric company cars, has been remained the same (9ppm) after being cut from 10ppm during the last quarterly review.