So says Chevin, adding that fleets should not view cheaper fuel as an excuse not to take further action.

Managing director Ashley Sowerby explained: “The fairly dramatic fall that we have seen in fuel prices is definitely a bonus for fleets but it should very much be viewed as a jumping off point for additional reductions in spending, we believe.

“What the £1 litre is really indicative of is a market that is highly competitive and any buyer in a highly competitive market can make savings by following the right strategies. Fuel is a major expense for fleets and this is an opportunity to manage costs even lower.”

He added that, by using fleet software and fuel cards together, managers should be able to create savings well above and beyond those made available by falling prices.

“There is a wide range of fuel strategies that are available but some of the simplest can be extremely effective. Simply by monitoring prices online and guiding drivers towards the cheapest local outlets, you could easily gain an extra five pence per litre above what you are already saving through the general price decreases across the market.

“Your fuel card data and the analysis tools available in your software will let you see which drivers are complying and also allow you to demonstrate the kind of savings that are being achieved. It is a worthwhile win for relatively little effort.”