Rising pump prices have virtually eliminated fuel cost savings from more efficient company cars, say The Miles Consultancy (TMC).

TMC’s data reveals that, although today’s average new fleet car uses 13% less fuel than its 2004 counterpart, higher pump prices mean that it costs just as much to keep it fuelled.

TMC calculated the cost of fuelling a car over 10,000 miles, based on inflation-adjusted fuel prices and the average CO2 rating of new cars acquired by fleets each year, from 2004 to the present. The 2010 fuel bill is marginally higher, even though the CO2 from new cars (and therefore their fuel consumption) has fallen from 167g/km to around 145g/km.

“The message is clear. Businesses that intend to cut their fleet costs cannot afford to rely solely on more efficient company cars,” said Paul Jackson, managing director of TMC, which helps companies cut the cost of fuel and mileage expense claims.

“While the most fuel-efficient cars – those in the sub-120g/km CO2 bracket – are holding their own in the race against higher fuel prices, the average new car is being left behind,” he said