Why Are Fuel Prices Going Up 2022 – Infographic
What’s happening?
On Thursday 24th of February, Russia decided to invade their neighbour Ukraine.
How does this affect fuel prices?
Russia is the second largest producer in the world. It produces a staggering 4.5 million barrels of oil every day. Only Saudi Arabia produces more and any disruptions to its production processes has a global impact.
OPEC is already struggling to meet output requirements due to post-covid demands, and analysts fear that financial sanctions imposed on Russia will affect their output and the wholesale price of the oil.
What affects wholesale prices?
The wholesale cost is determined by a combination of factors which includes: currency exchange rates, global oil prices, domestic supply and demand.
Will prices rise further?
Sanctions are not currently focusing Russia’s energy exports but when and if they do start to affect oil production, prices could rise further.
How can Cambrian help?
It’s our aim to provide UK businesses with solutions to run their fleet vehicles in a more efficient and effective manner.
Fuel Cards
Our fuel cards enable you to streamline your admin processes, save money and provide your drivers with the best facilities.
Our Online Account Portal will give you the data you’ll need to make effective decisions on all aspects of fleet activity.
As an independent fuel card provider, our priority is giving our customers the best card for their business. If your business changes and you need to change your fuel card for any reason, we will change to a more suitable card for free.
Telematics
We also provide a comprehensive range of telematics solutions. Telematics enable your fleet managers to see in real-time through software portal, where and how your vehicles are being driven.
Telematics are proven to:
- cut in instances of speeding by 35%
- reduce accident rates by 39%
- increase fuel economy by 10%
Why Are Fuel Prices Going Up 2022 – Infographic
