Arval has launched a new service aimed primarily at high fuel volume fleets, which allows them to put a cap on the average price of diesel.

The Capped Price Diesel service allows fleets to cap the maximum average price of diesel purchases over at least 12 weeks with a minimum volume commitment of diesel over the period.

For an up-front fee, fleets cap the maximum price they pay for diesel.

Should the price drop then they only pay the lower price.

Danny Clenaghan, card development director at Arval said: “Because of our understanding of the fuel market we have been able to develop an innovative new solution to managing fuel costs."